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Posted: Mon Sep 29, 2008 8:46 pm
by robbo201
Under the new SIVA, there will be no ongoing review but will there still be the clause to consider any equity in the property in the final year
Posted: Mon Sep 29, 2008 8:47 pm
by Adam Davies
Hi
Yes I believe so
Regards
Posted: Mon Sep 29, 2008 10:22 pm
by plasticdaft
The equity thing can often realise a good dividend for creditors and without it,I'd imagine many IVA's wouldnt get off the ground.
Posted: Mon Sep 29, 2008 10:28 pm
by kallis3
The way things are going, I doubt many of us will have much equity to release, let alone be able to get a remortgage. The creditors won't be getting as much back from those who have to carry on for 12 months. We have to release £28,000 in year 4 (or whatever the valuation is then), if we carry on, they'll get back about £7,000 on top of what we will have already paid.
Posted: Tue Sep 30, 2008 8:18 am
by Adam Davies
Hi
I agree,there will be many that are unable to remortgage
Regards