Looking to buy some land in Ireland

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david.hl

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Post by david.hl » Tue Sep 14, 2010 9:05 pm
Hi,
I am currently in an IVA and we were looking to get some land in Ireland with a view to building and the moving over in a few years once the IVA has finished. What is the situation in regards getting a loan for this or re-mortgaging to pay for it while in an IVA? Is it allowed?
 
 

kallis3

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Post by kallis3 » Tue Sep 14, 2010 9:09 pm
Hi,

It is highly unlikely that you will be allowed to buy any land whilst in an IVA. It is very doubtful that anyone would give you a loan or a mortgage.

I think this is something you will have to put on hold for a few years.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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MelanieGiles

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Post by MelanieGiles » Tue Sep 14, 2010 10:26 pm
What benefit would your creditors derive from such a plan?
Regards, Melanie Giles, Insolvency Practitioner
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