Selling a house post IVA

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BrickingIt
Posts: 2
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?
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Lisa Thomas
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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.
BrickingIt
Posts: 2
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
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
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