Fixed rate expiring

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couple31

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Post by couple31 » Tue Oct 07, 2008 9:00 pm
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The fixed rate on our mortgage with HSBC expires May 09

With us having done an IVA in the past, will they let us just go onto the variable rate or will we be forced to accept a high fixed rate?

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plasticdaft

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Post by plasticdaft » Tue Oct 07, 2008 9:05 pm
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check your mortgage details,normally after any period of special rate you will revert back to the standard variable rate.
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MelanieGiles

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Post by MelanieGiles » Tue Oct 07, 2008 9:07 pm
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I am assuming that you are no longer in an IVA? If this is the case, I am sure that you will find that you will not have to pay any higher than the standard variable rate - and could well negotiate better terms by fixing the rate.
Regards, Melanie Giles, Insolvency Practitioner
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couple31

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Post by couple31 » Tue Oct 07, 2008 9:16 pm
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We completed the IVA last Jan with the f+F although the credit file says status unknown (which is another headache to sort out)

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luluj

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Post by luluj » Wed Oct 08, 2008 8:13 am
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Try and get your credit file sorted before you swap rates - it may help. Send a copy of your completion statement to your creditors and ask them to amend your credit report. Also send a statement to the three credit reference agencies - they too can then add a note your report for reference in the future.

It might be wise when considering a new rate with your bank that you have a copy of your IVA completion statement to show them - it may just help !
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David Mond

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Post by David Mond » Wed Oct 08, 2008 10:00 am
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You could write to the credit reference agencies enclosing your completion certificate in respect of your IVA.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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