Equity release.

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Post by Carra_Rud » Tue Sep 05, 2023 10:13 am

We are at month 54 of our iva and creditfix are looking at releasing equity to pay the remaining balance. I have a couple of questions.

1. Are we forced to take out a second charge mortgage (secured loan) to pay remaining balance?

2. Our app stipulates that we have approx 14k to pay off but the financial institution that creditfix have instructed to help us obtain a loan (Select Partnership) have told us creditfix have told them the final balance is 40k. I realise there are fees etc but this seems unreasonable.

Any help would be appreciated.
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