Equity loan while in IVA

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by Helly78 » Mon Jan 07, 2019 11:09 am
Another question from me thanks all in advance

Has anyone had their help to buy loan end while in their IVA thus needing to release the equity / remortgage or sell to pay the loan.

Ours is up September this year. The IVA is in my name but the mortgage and house is in mine and my husband's.

Payplan not answering emails from me on this so wondered if anyone has gone through something similar. I'm worried we may loose our home which is also where I work from

Posts: 4
by Helly78 » Sat Jan 12, 2019 4:41 pm
Any advice would be appreciated thank you
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by Foggy » Sat Jan 12, 2019 5:25 pm
Sorry that you have not had a response to this query. I am guessing it is a rare situation that not many have found themselves in.

Might I suggest that you have a word with one , or both, of our two mortgage experts, who both have experience of dealing the IVA's:

They are Ryan from Zebra Money Centre --- Website: http://www.ivamortgageexpert.co.uk and
Shaun fron Select Partnership --- Website: http://clients.theselectpartnership.co.uk/
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by Ryan » Mon Jan 14, 2019 10:20 am
Hi Helly,

If you aren't able to re-mortgage to purchase the remaining share you would instead start paying the 'rent' on the share that you don't own. Your IP should also be aware of this if will still be in your IVA at that time.

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