Does the house valuation for our 2 separate IVAs have to be identical ?

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christop
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by christop » Mon Dec 04, 2017 4:44 pm
Hi, we are divorced and have separate IVAs with different providers at different stages - I am trying to get a F&F on mine (which my IP has drafted and is proposing) and my ex wife is nearing the end of hers 5 years with a possibility of an extra year depending on valuations etc.
Simple question is this - Do our house valuations have to be identical? as we are completely separate and have had 2 different ones done and there is a difference - will the 2 ever be viewed by the creditors when accepting offers? NRAM being the main creditor.
Will my proposed F&F be looked at favorably as I am looking to return to Brazil?
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Foggy
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by Foggy » Mon Dec 04, 2017 5:00 pm
They were done by different agents and are going to be different anyway -- as long as the difference is not enormous there should be no problem. In any event the main thrust of the valuations is to see if the equity release clause kicks in --- if you are coving an anticipated extension in your offer and the ex is expecting to pay 12 extra months, rather than actually remortgage, it is a moot point anyway.
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