www.iva.co.uk

Posted: **Mon Jan 19, 2015 5:50 pm**

Question re IVA Protocol 2014
Presently in the last year of IVA and about Â£800 behind on payments but IVA are fine and just paying an extra Â£60 a month to clear.
However when it come s to the equity release I have read in the IVA Protocol 2014
â€œThe incremental cost of the remortgage, including cost of any new repayment vehicle, will not exceed 50% of the monthly contribution at the review dateâ€
Should I try to get my payments up to date before equity release date?
Thanks
Mark

Posted: **Mon Jan 19, 2015 5:56 pm**

You are not affected by the 2014 protocol unless you have signed any variation signing up to it.

That said the cap the new protocol refers to is the same as in earlier protocols. The current arrears should have no bearing on equity release, which will proceed, according to the terms of your own proposal, in any event.

Posted: **Tue Jan 20, 2015 7:54 am**

Hi Foggy,

Thank you for your advice which is very valuable.

Kind regards,
Mark

Posted: **Tue Jan 20, 2015 8:31 am**

Hi

It should be based on your final year IVA payments but not including any extra paid towards arrears

Regards

Posted: **Tue Jan 20, 2015 9:42 am**

Hi Andy,

Great news and thanks for your clear reply which is very much appreciated.

Kind regards,Mark