Hi there RobertP and welcome to the forum
Yes it is should still be possible to start an IVA if you cannot remortgage to release the equity.
As long as you can afford the monthly payments for the IVA term there should not be an issue. usually at the end of your IVA you would be asked to remortgage to release any equity in your home or get a secured loan but if you are unable which is often the case due to poor credit rating your IVA will be extended for another year to compensate your creditors.
I hope this has helped answer your question, please ask if there is anything else you need while going through the IVA process and also you can always give one of the experts at Beat my debt a call.
Melissa McDonald writes articles and blogs about debt solutions and how they can be implemented. She aims to reassure people having debt problems that they can be debt free!