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Posted: Sun Mar 27, 2016 6:22 pm
by Tina.61
Hi it says in both our documents our share and has the 5k on it so my share I'm assuming is 5k and hubby's share is 5k
Posted: Sun Mar 27, 2016 6:46 pm
by kallis3
Hi,
Have you had a valuation done?
You need to speak to Aperture to find out exactly what is going to happen.
Posted: Sun Mar 27, 2016 6:59 pm
by lifenoteasy
Depends on whether you have interlocking iva's.
Posted: Sun Mar 27, 2016 7:03 pm
by kallis3
Posted: Mon Mar 28, 2016 9:21 am
by Foggy
IP's have attempted to interpret this in different ways and it is really down to exact wording.
To my mind a usually worded equity clause is intended to grab a percentage of the individuals SHARE of the equity. So a husband and wife owning together usually own 50% of the equity each and I would say, in that case, that if each has the £5k de minimis trigger point in their agreement that the overall equity should be £10k on the property to trigger equity release.