Selling a house post IVA

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

BrickingIt

Posts: 2
Joined: Mon Jun 11, 2018 1:35 pm

Post by BrickingIt » Mon Jun 11, 2018 1:43 pm
My iva successfully completed 3 years ago without issue.
I am now considering moving house. If my house has increased in value, is any profit I make eliigable to be taken by the trust fund set up when the iva was set up? I understand this trust stays active until fully satisfied despite having a completion certificate?

Lisa Thomas

User avatar
Industry Expert
Posts: 7397
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Jun 11, 2018 2:50 pm
The Trust argument only relates to assets unknown/not dealt with as part of the IVA proposals - i.e the PPI debarkle so if your property was declared and retained as part of the IVA and you have successfully completed it and obtained your CC then you are free to do what you want with your property.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

BrickingIt

Posts: 2
Joined: Mon Jun 11, 2018 1:35 pm

Post by BrickingIt » Mon Jun 11, 2018 3:08 pm
Lisa Thomas wrote:
The Trust argument only relates to assets unknown/not dealt with as part of the IVA proposals - i.e the PPI debarkle so if your property was declared and retained as part of the IVA and you have successfully completed it and obtained your CC then you are free to do what you want with your property.
Lisa, thank you so much for your reply. My heart sunk to the pit of my stomach when I found out about the trust. Your answer clarifies it perfectly.
Best regards...

MortgageTips

Posts: 21
Joined: Sun Jan 21, 2018 4:38 pm

Post by MortgageTips » Wed Jun 13, 2018 3:37 pm
BrickingIt wrote:
Lisa Thomas wrote:
The Trust argument only relates to assets unknown/not dealt with as part of the IVA proposals - i.e the PPI debarkle so if your property was declared and retained as part of the IVA and you have successfully completed it and obtained your CC then you are free to do what you want with your property.
Lisa, thank you so much for your reply. My heart sunk to the pit of my stomach when I found out about the trust. Your answer clarifies it perfectly.
Best regards...
Hi Brickingit
If you are considering an onward purchase & you require a mortgage, you could consider "porting" your existing mortgage, High Street Lender (not all) after 6 years from registration date or some smaller lenders 3 years post satisfaction.
Happy to help
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”