Different firms do treat properties differently ( within the regulatory framework). Some will use the pre 2014 Protocol, which requires you to attempt to remortgage or add 12 payments onto the term uif this proves impossible (which is currently usually the case -- but things might change). Some will use a post 2014 Protocol, which adds in the option of a secured loan to release equity. One, I know of, uses R3 terms, which are broadly similar to the pre 2014 Protocol in this respect. In all of these they relate to YOUR SHARE of equity, which has to be over £5k to trigger the equity clauses.
You will not be able to sign over the house as your share of equity is pledged until that matter has been addressed (usuaklky at month 54) and there will be a restriction placed on the title deeds. Again, this aspect should be explored at the start -- sometimes, if the circumstances are pressing enough, creditors will agree to exclude property on the proviso that you extend the term of the IVA ( usually by the 12 months) to compensate.
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