www.iva.co.uk

understand from reading comments that IVA's will not be agreed without this element?

I have interest only mortgage at 97% LTV. Cant see there being any equity to release in year 5/6 bearing in mind the 85% threshold and £5000 to be kept by me. My house has increased on average £4000 a year over the past 6 years but doubt this will increase at this rate during the next 5/6.

I fully accept that this clause may have to go in but if there is no chance of there being any equity at the end of this period is it a 'false promise' and therefore jeopordise my proposal.

That is good news for you anais, as most IPs feel that the inclusion of equity when you are already paying over two extra years contributions is enough!

And do remember that there is a deminimis level of £5,000 under which no money has to be raised in any case.