Sprout loans eligbility

[jawad]

Hi,

Does anyone know if you need to be a home owner to be eligble for a sprout loan to end the IVA early?

Thank you

[Foggy]

As Sprout early release loans are generally secured on property you would need to be a homeowner. However Sprout do offer unsecured lending as well, but I do not know if this would be offered to those in an IVA, as the lending risk is high, or, indeed, whether it would be acceptable to existing creditors. To be honest I would be surprised if your IP would agree, if Sprout would agree and if creditors would agree. You can but ask.

[Suki12]

Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying

[Foggy]

Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying

There you go, jawad, always worth an ask.

[luluj]

You would still require the agreement of your IP before taking out an unsecured loan whilst in an iva.