your post also makes interesting reading, and I tend to worry about whats ahead too, but at the same time as taking care of the present.
I agree that 4.29% for 2 years seems so good and will probably struggle to get as good adeal in 2 years.
I need to acertain from my IP that if the extra is paid into the IVA now, and then in 2 years find myself at the 7.84 rate for example which would be very difficult on todays salary, would the fact that we've been paying in more at the moment count in our favour, or would it be the otherway, in fact as we'd been managing to pay more, then sudden increase of hundreds is needed to meet mortgage = problem?
As I see it, we have an IVA which was agreed when our rate was at 5.95%, so if we cough up the difference as it stands now, surely this would earn us gold stars for now, to save up for a rainier day when the interest rates might make things difficult for us if they are above 5.95 for us?
You do need to speak to your IP as you will probably be expected to pay some across.
We are all going to be in the same boat when the interest rate goes up again and will have to be ringing up to ask them to lower the payments again!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
