Releasing equity question

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pail

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Post by pail » Mon Jun 21, 2021 8:02 am
My Iva supervisor had written to me about equity release as I’m now approaching the end of my agreement..my question is .. do I have to use the two companies that my supervisor has recommended to help process my equity release or can I use my a company that I choose ? .... all seems a bit dodgy as no doubt the so called two companies are very friendly with my Iva supervisor and they line each other’s pockets

Foggy

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Post by Foggy » Mon Jun 21, 2021 8:12 am
It does, of course, depend on which companies are involved as to their 'suitability'. However, you are not obliged to use the companies they push on you, but will have to satisfy the IP that you have carried out due diligence. It is often easier to use their recommendations.
Don't forget that, if they find a suitable loan, within the criteria of your IVA terms, then you have to either use that or find an alternative --- the extension in lieu will not apply as release is actually possible !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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