Brytannic Extra Finance are a mortgage and homeowner loan broker. We work 100% for you, our customer. We are not tied to one bank, instead we work from a panel which enbles us to research a number of different lenders to find the right solution for you. We dont charge any upfront fees, so its worthwhile giving us a call or apply online.

How an IVA works

An IVA is a legally binding arrangement with your creditors which allows you to repay your debts in affordable monthly payments over a fixed period of time, usually five years.

Your IVA proposals are suggested to creditors in a document called Proposals. The Proposals are lodged into Court and your creditors also receive a copy. If your assets are at risk because of action taken by creditors, we can apply to court for an Interim Order, which means that creditors cannot commence or continue with any action against you and your assets unless the Court permits them to do so.

A meeting of your creditors is held and creditors are able to vote on whether to accept, alter or reject your proposals. As long as your proposals demonstrate a genuine desire to repay as much of your debt as you can afford, it is likely that creditors will accept your IVA. It is our role to guide you on what creditors will find acceptable.

Once your IVA is approved all interest and charges on your unsecured debt is frozen. Also due to the fact that an IVA allows you to repay a proportion of your debt, then as long as you adhere to the agreed terms, the remaining balance of your debt will be written off.

Brytannic Extra Finance are a mortgage and homeowner loan broker. We work 100% for you, our customer. We are not tied to one bank, instead we work from a panel which enbles us to research a number of different lenders to find the right solution for you. We dont charge any upfront fees, so its worthwhile giving us a call or apply online.