I know of a broker from another forum who has secured mortgages around a 70% LTV for post IVA clients.

Pammy your situation makes it easy(lowish equity) but what if there is 40-50k equity in the property,it cant just be tagged on at the end unfortunately.

Paul

Good points all around from pammy1969, cannypay, and plasticdaft.

A limited amount of equity need not be a barrier to entering into a trust deed, though it needs to be thought through in advance how the money will be paid over so that there is a plan in place.

Large amounts of equity probably are a problem, unless you are prepared to dispose of the property to release it, or have incredibly generous relatives.

There is almost no potential to release equity by way or remortgage once in a trust deed; even if the 70% LTV mentioned by Paul were possible that's not going to be enough to help in almost all instances.

Oh absolutely - of course there's a limit to the amount you can add on but the main point I guess I was trying to make is that the OP shouldn't put too much faith in an online valuation and not to discount a Trust Deed based on such a valuation without getting a proper survey done. Like you said, we were very lucky - it's about the only time you want your home to go down in value!

Our equity figure was agreed at the start and there is less equity now I think but will happily take the hit now we are almost done.

Agree Pammy that an online valuation is of little use at the best of times.

Paul

thanks for all your input guys 🙂 i`m just awaiting the valuation coming back , seems a lot depends on that , i have no choice other than a TD , but coming out the other end of it then still losing the house is my main worry :-/ .

will keep you all informed and again thank you

Hi fedup58

I see you are waiting on a valution, you could have left this to the Trust Deed firm as they will instruct one anyway- often their valuations can be slightly lower. Is it a possibility for you to re-mortgage at all before entering a Trust Deed? This will depend on your income and your current credit history. Even if you can't remortgage for all of it, you may be able to get some, and pay the rest up at the end of the Trust Deed.
I would advise that you sit down with someone face to face and discuss all the options available to you. Do not give up, we are here to find a solution for you.

Hello Shona ,

The valuation is indeed being carried out by the Trust Deed firm , i`m not sure if a re-mortgage is an option, I guess it all revolves around the valuation and how much equity the mortgage lender would allow me to release

Get some dirt thrown on the house windows and scatter some rubbish around the house,anything to lower the value!!!

Paul

Improvements like boarding up windows may be a bit obvious!