Costly to fix

[hara]

Hi All,

I was informed by a mortgage broker that it would be expensive to arrrange a fixed rate as I have not been in IVA for 12 months.Is this information true?

He informs me that I mayhave to pay 8%! to fix a rate.

Can any one cooment? please.

hara.

[mikebdomain]

Hara everybody’s situation is different. The rate you could obtain would depend on your personal circumstances. There are all sorts of mortgage products out there, some of the criteria of these products views IVAs harshly, others seem to view IVAs as no more than a loan. Most need you to have carried out your IVA satisfactorily, some require you to have been in an IVA for over 12 months. No one can tell you what rate you may be able to get without going into all the details.

I am not at work at the moment, so can not check, but I’m sure there are lenders that have products with a fixed rate less than 8% that will allow an IVA without the requirement for you to have been in the IVA for over 12 months.


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Whole of Market Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Directly Authorised Firm FSA No:313790

CeMAP 1,2 & 3 qualified
F.P.C 1,2 & 3 qualified
Financial Planning Certificate
Certificate in Regulated Customer Care
Certificate in Regulated General Insurance
Associate of the Charted Insurance Institute

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[MelanieGiles]

I am sure that the mortgage brokers who regularly contribute to this site could get you a far better deal.

Come on boys - let's have a bit of competition to see who can come up with the best rate!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[hara]

Dear Mikebdomain and Mrs.Giles thanks.

Mikebdomain, I probably shall phone you tomorrow to introduce my self and fill in a few details for a exploratory talk.

I shall be approaching my present provider as well.

You comments are a little reassuring.

Thanks.

Hara.