This is often people's main concern when considering an IVA. It would not be all the equity in your property that would be looked at - you would be asked, in the final year, to remortgage to 85% of the forced sale valuation of your property at that time. If your mortgage is already higher than that then there would be no equity to release but if there was some, and you could not remortgage, as liamjames says, thre may be a calsue to extend your IVa payments by up to 12 mths.
If you are looking to find a way of sorting out your debts, the best thing you can do is to call 2 or companies to discuss your situation in more detail to understand the full facts and the implications of all options open to you.
There are highly recommended companies and IPs on here who are also reviewed at www.iva.com
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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Hi why not take a look at www.iva.com for a list of companies and some reviews of these, always take the advice of 2 if not 3 companies to ensure impartial free advice and all debt solutions can be discussed with you including that of an IVA and the equity release in full. All the best. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.