Is a 'help to buy' equity loan classed as a secured debt ?

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clare
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by clare » Fri Oct 27, 2017 4:02 pm
My husband and I bought our home 4 years ago using help to buy equity loan.
How is the help to buy equity loan viewed whilst going through Iva?
Is it classed as a secured debt? I can not find any information regarding this anywhere. I am trying to estimate the equity in our home...
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Foggy
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by Foggy » Fri Oct 27, 2017 4:44 pm
It is currently a charge on the property and so, as, if you sold, this would have to be repaid the equity should, in my view, be reduced by the amount still repayable at the time of valuation for equity release.
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