www.iva.co.uk

Hi all, hope everyone is keeping well.

Is there a possibility to apply for a secured loan (joint mortgage) to make a F&F early settlement offer on my IVA?

Would I even be accepted as part of the application? - and if so, would I need prior agreement from my IP before making any applications?

Thanks in advance!

Think I may have found my answer through the haystack that is Google - seems that even if it was possible, finding a lender to accept an application would be pretty difficult!

Yes, finding a lender would be difficult ... more so a lender without eye watering rates. However, the stumbling block would be your IP as there should be a restriction on your title deeds which would alter him and deter a lender. If you could extend your secured lending you would be expected to be doing this to release equity towards the end of the IVA in any case and your F&F offer at this stage would need to factor in an amount in that regard.

That all said, I believe that The Select Partnership have assisted homeowners in such endeavours in the past. However, some creditors are resistant, on principle, to early closure using borrowed funds.