question category: IVA

Can i buy a new home with a IVA and sell the one that i am in?
Submitted on: 27th Feb 2009 by Non-Member | Total Answers: 1

Hi,we are in our 3rd Yr of our IVA and all has been well.We have been thinking about moving home before
our IVA is up,can this be done?
Sell our current home and buy another.I understand that i can put a settlement figure into
my Practitioners should any profit be made from my current home.

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Re: Can i buy a new home with a IVA and sell the one that i ...

Talk to your insolvency practitioner if you haven't already. All your creditors are concerned with is the relative equity in your homes before and after the purchase. It's normal for you to have to release equity in your home towards the end of your IVA to contribute towards your debts. It's unlikely to be an issue for you.

Submitted on: 28th Feb 2009 by TA Member

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