Release of equity after IVA

struggler

Does anyone know how you can re-mortgage or release equity to satisfy an iva? Who will look at the finance if you have 1. no credit rating 2. little income to repay the loan. and 3. are older.

I am not in an IVA or DMP (yet!), but feel it may not be long away as business is suffering a downturn!

a2062cad

struggler wrote: »

Does anyone know how you can re-mortgage or release equity to satisfy an iva? Who will look at the finance if you have 1. no credit rating 2. little income to repay the loan. and 3. are older.

I am not in an IVA or DMP (yet!), but feel it may not be long away as business is suffering a downturn!

Sorry but not sure. Your best bet surely could be to talk to an IP firm as to your options.

Good luck though. I am sure others will be here soon to advise.

MIVAA

Hi struggler,

There are companies that specialise in providing these products.

They are know as 'Sub prime' lenders because they specialise in supplying secured loans to people who have poor credit ratings and don't fall into the 'Prime' market.

If and when you go through your IVA application make sure you have a full consultation at the outset because it is during this consultation that you will have everything about the IVA process explained to you and all will, or at least should, become clear. :rolleyes:

Hope this helps

MIVAA