www.iva.co.uk

After Christmas, I'll need to deal with my equity release clause. I live in north London where property prices have gone mad in the past five years so there's no doubt that I'll have equity to release. (Whether I can get a remortgage or not is hopefully a given in that I probably won't be able to.)

My question is this: How do I know what figure to request when I apply for the remortgage? How do I work that out? Or will my IP tell me? I haven't seen this aspect of equity release covered anywhere.

Grateful for any information.

First of all you will need to get a valuation. Usually it is 85% LTV and payments cannot be more than 50% of your IVA payments. However, you will need to check your paperwork as a lot of firms are now talking about secured loans.

You are unlikely to be able to remortgage.