Do I need to get another property valuation in year 6 of IVA?

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maureen876

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Post by maureen876 » Wed Jan 15, 2020 4:04 pm
I am 5 months away from finishing my iva. I was unable to release equity in year 5 so have to make extra 12 months payments. My question is do I need to look at having another valuation in this my 6th year.

Lisa Thomas

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Post by Lisa Thomas » Wed Jan 15, 2020 4:06 pm
no you have extended in lieu of the equity so that should now be it. Otherwise there could (potentially) never be an end in sight!
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

Foggy

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Post by Foggy » Wed Jan 15, 2020 4:13 pm
As Lisa says -- the equity question has been addressed and dealt with -- they only get the one bite at that particular cherry.
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Shaun Vickery

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Post by Shaun Vickery » Thu Jan 16, 2020 11:37 am
Unless there was something else was agreed at the time, the 12 month extension is usually applied as an alternative to releasing equity if you were unable to do so.
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