www.iva.co.uk

Hi all how time flies.Im approching year 4 annual review so ill be going into my 5th year soon ! My question is about the remortgage am i remortgaging the remainder of the IVA balance or the original debt? ive searched online and its a bit vague.Hopefully somebody on here has been in this situation .Thanks

The ultimate ceiling is the total original debt. But the equity release clause has it's own ceilings --- the amount to be released is limited 85% of available equity in your share of the total equity. The repayment for the new lending cannot exceed 50% of your usual IVA payment amount and the term cannot extend beyond your current term or state retirement age, whichever comes last.

Thanks for the reply