4th year release clause ?

[donna23]

Hi
I have the 4th year equity release clause in my IVA we only have till feb 2011 (7) more payment to do,[:)]
We could not get remorgagage at the time of my 4th year clause the said that they was £10,000 equity in the house now the is £14,000 but the said that i will have to do another year i pay £175 and my husband pays £500 = £675 to the IVA my son said that he will pay £5000 to pay it of in feb with no more payments do you think this would be a good offer [?]

We cant pay anymore then £675 so if you x that by12 = £8100 so the would be losing out on £3100 what do you think please[?]

Donna[:)]

[MelanieGiles]

It really depends upon the terms of your specific IVA with regard to the equity release, but £5,000 seems a good offer to me.

Call your IP and put it to them to see what they say.

[donna23]

Thank you Melanie

we will put it forward and see how it gose.

Donna