Your mortgage is not included in the IVA, but is taken into account when deciding how much disposable income you have.
Your unsecured debts will be included in an an IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You will continue to pay your mortgage in the usual manner, as this is secured against your property, but if you have a negative equity situation, the unsecured shortfall is bound under the terms of the IVA.
But only if you sell the property or it is reclaimed by the mortgage company in event of your default.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
