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House equity to settle an IVA?
Posted: Fri May 21, 2021 11:20 am
by efim
Hello, I am in an IVA for 16 months and I'm looking to settle it early. The reason is that I'm moving from UK for a year. Is any chance to use the house equity to pay for it?
Thank you!
Regards
Re: <t>House equity to settle an IVA?</t>
Posted: Fri May 21, 2021 11:56 am
by Foggy
If you sell the house the equity will be due to the IVA anyway. You could
offer to sell for the purposes of ending the IVA early --- basically saying " I will sell the house in order to be able to give you £xxx, as a full and final offer to close the IVA early. If the offer is rejected I will not sell".
Alternatively, and probably better, speak to either Ryan or Shaun, who are both whole of market brokers. I know that Shaun has access to products allowing equity to be used for an early exit, and I imagine Ryan might do as well.
Their contact details can be gleaned from their profile pages here:
Shaun :
memberlist.php?mode=viewprofile&u=22837
Ryan:
memberlist.php?mode=viewprofile&u=18488