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lostoncontact
- Posts: 16
- Joined: Sat Dec 21, 2013 7:20 pm
- Location: United Kingdom
Hi
Just got our letter from the IVA company about getting our house revalued and attempt to get a remortgage from two brokers.
The letter it self is hard to figure out what we are expected to do and more importantly what should we try and do for the best outcome for us..
The original valuation on the house was £125,000 and the mortgage stands at approx £80,000
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Michael Peoples
Industry Expert
- Posts: 15189
- Joined: Mon Nov 03, 2008 12:36 pm
- Location:
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You can try and release equity but it is highly unlikely that this will be possible. Ask your IP what they want you to do.
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Lisa Thomas
Industry Expert
- Posts: 7759
- Joined: Wed Dec 03, 2014 10:26 am
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I expect a 12 month extension will apply on the assumption you have standard IVA terms and you won't be able to remortgage.
