Friday 6th of August 2010
Housing is one of the most expensive outlays for a UK adult in current times and it seems to be getting dearer by the year, if new figures from Halifax are anything to go by.
Information on individual voluntary arrangements (IVAs) may, though, offer peace of mind to those of you who are finding it increasingly difficult to meet your mortgage repayments.
According to data from the organisation, the total value of privately-owned housing stock in Britain has more than doubled over the last ten years.
The figures reveal the price rise corresponds to £33,000 per head of the UK population - £2,000 billion in total.
An IVA could, however, help struggling homeowners meet their mortgage repayments if their unsecured debts are proving an obstacle.
The measure may see you totally debt-free after around five years of hard work and dedication.
While IVA info will show you the method can’t help you directly, the fact you may no longer have to shell out cash every month to cover personal loans and credit cards should ease the burden exerted by your home loan.
And this might leave you a much happier homeowner, with full control over your finances.
By Ashley Littley
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- IVA advice 'can help struggling borrowers'
