F and F accepted need to sell house now

[Pbryan10]

Hi All
Some advice appreciated. We have just had a full and final accepted after 18months onto our IVA. Our income reduced and we could no longer afford payments. We proposed our IVA on the basis of selling our house....market slowed right down now!! and no interest / offers to buy the house as yet.
I could remortgage with our lender accord but would need to lend approx 92% of the value to get the money we need to settle. Anyone had any experience of Accord mortgages or other lenders recently where you can still get 90-95% LTV mortgages?

Thanks

[Adam Davies]

Hi Mikeb will be able to advise you on the mortgage front but I do doubt that you wil get anything above 90%,however it may be possible to go back to your crditors with a revised figure once you do sell or get a firm remortgage offer
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Andrew Graveson]

Hi Pbryan10,
In my experience Accord are a really good lender. I do think that as you are currently in an IVA achieving 90% to 95% could be very difficult in the current mortgage market place. You may wish to speak to Accord directly and also call one of the brokers that post on this site as, as is always the case with mortgages, it comes down entirely to your unique personal circumstances.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk