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If I enter into an IVA what happens to my mortgage? Is it another debt or can I continue to pay it and remain in my own home? I have never defaulted on my mortgage payments.

Hi there and welcome to the forum

As your mortgage is secured upon your home, you will need to keep making those payments as an essential part of your expenditure. The mortgage is a debt, but will either be secured in full or in part by the value of your property. Your mortgage company will be informed of your intention to propose an IVA, but are unlikely to take much notice of this if you are up to date with your payments.

They might do as ours did with us - perform a drive by valuation just to make sure that they will get their money back if something happens. Nothing to worry about if they do.

You may have to pay into your IVA 85% of your net equity interest in your property in the final year of your arrangement, provided that such equity is above £5,000. Normally by a re-mortgage.