iva

phillol

Hi,advice please.I am well into my IVA,we are thinking of downsizing to a smaller house,Ive been excepted on shared owner scheme,What i would like to know is when I sell my house,will the IVA take an amount equal 80% of my equity,or am I allowed to put the equity into my new house to pay in full the 25% of the new house,therefor allowing me to pay more into the IVA,The IVA is only in my name and has nothing to do with my wife,although they have taken into account my wife pension,for repayements.All debt is in my name only,any advice please.Thanks

foxy-stoat

How far into the IVA are you and how much equity do you have at the moment or likely to have in year 5?

I would not do anything until your IVA completes, you do not want to down-value and you certainly wont be able to up-value either.

memberme

Most IVA's required the IP to be informed of the sale of a house and insist a restriction order is attached to the registry at the onset of the IVA. Worth remembering, that they will need to agree to everything and will be aware of everything.