- Friday, 1 May 2009Equity release plans - a typical part of the
IVA process - are increasing in value on average, according to Safe Home Income Plans (SHIP).
The organisation reveals that the typical amount released through home equity plans stood at £48,287 in the first quarter of 2009.
Such a figure represents a rise of 16 per cent year-on-year, according to SHIP.
In all, more than £245 million was released from equity held in property over the quarter, allowing households to clear debt or boost their savings.
IVA solutions such as those available from
Money Debt & Credit can incorporate equity release to help repay the amount owed to creditors.
However, the overall ownership of the property should remain with the individual as part of the
IVA process.
Other assets, such as the family car, can also be protected against being forced to sell in order to cover the outstanding balance owed on debts.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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