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  • #2811

    Why do you find that so many clients forget about the equity clause?

    Jane Clack

    Because it does not come into effect until month 54 of the IVA. At this time people do not remember that if they were not able to remortgage and the equity is high enough then they will be asked to pay in for a further 12 months. It is very unlikely that any client would be forced to sell a property but after 60 months they forget the IVA is protecting the property as they have been doing for 5 years already. Clients are always made aware of the equity clause but it is human nature to forget.

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