Hi all
Can anyone explain please
1st my expected dividend is approx 64p in the £ probably more with overtime etc, this divi is based on £ 60k debt so presuming i have paid say £38000 ish to creditors afer ipfees ,when my 4 yr equity clause comes in what would be the max to remortgage for creditors, am i right in thinking up to 100% ie £22,000 ? trying to think in front albe it is a long way off yet,
Any info please
Hi
The most that you will have to pay from any equity release will be the difference between your original debt plus IP fees less payments made from your monthly contributions
Regards
We were told how much we had to release - £28k. At the moment the most you can remortgage for is up to about 75% LTV. You shouldn't have to remortage for 100% though. Check what it says on your proposal.
Don't forget that if your new monthly payments from the remortgage are more than 50% of your IVA payments, then you can't do.
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
