I am coming up to being half way through my IVA, and my partner has offered to pay the remaining 8k approx. We have recently had a baby, and my partner is looking to buy a larger property in his name only. My property is in my name with my dad as guarantor. It's 100% mortgage which I paid £167.500 for and is probably worth around £195-200k now. Will part of my equity be taken? And how soon could I sell following completion?
Once your iva is completed and certificate issued any restriction placed on the property will be lifted and you would be free to sell.
You can sell as soon as you get your completion certificate, which should be a couple of months coming, but make sure the IP lifts any restriction he has placed on the property, to avoid embarrassment during the conveyancing process.
Bear in mind however if accepted some IP firms take up to 6 months to issue a CC...
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