Creditors entering into an IVA accept that mortgage payments are a priority – it’s one of the major reasons people choose an IVA over bankruptcy. However, each part of your IVA is individual to you. You come up with a proposal that deals with each of your assets in turn. People occasionally decide that they are willing to sell their home and allow the proceeds of sale to go to their creditors. More often, people want to stay in their home for the duration of the IVA and beyond it. That’s often what’s really important to you. So what we’d be looking for is a proposal that provides monthly payments over a five-year period. So long as you maintain your monthly mortgage and IVA payments your home will be safe. If you have equity in your home, most of it (typically 75%) will need to be paid into your IVA. However, this money is generally paid within the last two years of your IVA, enabling you to remortgage your property.