Additional borrowing after iva

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Jarry27
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by Jarry27 » Mon Jan 15, 2018 6:32 pm
Hi, Just wondered if anyone could give any advice on releasing equity from property once an iva has finished? We completed early with a settlement (Dec 17) and our iva started in Oct 14. We have equity in the property and spoke to Halifax today who declined our application to release it. Can anyone advise? Thank you
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Foggy
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by Foggy » Mon Jan 15, 2018 6:39 pm
I would suggest a chat with Ryan or Shaun, who are both whole of market brokers with experience of adverse credit applications. You can find their details unser "Quick Links" (top left) and then under "The Team" on the drop down .... they are in yellow towards the bottom of the list.
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luluj
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by luluj » Mon Jan 15, 2018 10:16 pm
Unfortunately your credit report will continue to show your iva for 6 years from its start date - so October 2020 ! Releasing equity may well be diffucult whilst it remains on your records. Ryan and or Shaun will give more specific advice. Good luck !
Jarry27
Posts: 3
by Jarry27 » Mon Jan 15, 2018 11:12 pm
Thank you both. I have messaged Ryan (I think! I’m new to all this) really appreciate your reply
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Ryan
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by Ryan » Tue Jan 16, 2018 8:30 am
We'd be happy to look at your situation if you were to contact us.

Regards
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Shaun Vickery
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by Shaun Vickery » Tue Jan 16, 2018 12:14 pm
It's possible, although Halifax wouldn't be one to entertain it as you have already seen. It will really depend on your other circumstances but the IVA itself isn't a deal breaker.
Jarry27
Posts: 3
by Jarry27 » Tue Jan 16, 2018 12:25 pm
Ryan wrote:
We'd be happy to look at your situation if you were to contact us.

Regards

Hi Ryan

Thank you for your message. I think I did contact you last night but not sure if it sent ok. Can you let me know?

Many thanks
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Ryan
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by Ryan » Tue Jan 16, 2018 12:39 pm
Yes we received your enquiry and one of my Colleagues will be in contact with you.

Regards
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luluj
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by luluj » Tue Jan 16, 2018 6:53 pm
Fingers crossed Ryan and team will be able to help you - let us know how you get on.
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