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steabbott
- Posts: 11
- Joined: Wed Sep 14, 2005 4:07 pm
Hi everyone .
I have a variation meeting today as my mortgage payments with Nram have risen significantly as they wont renew my interest only mortgage . I have been on interest only for 4 years and have 24 payments to go on a 6 year IVA. The question i hope someone can help me with is that my payments have reduced from 700 a month to 220 a month due to the mortgage change . Firstly . Is is possible to ask for payements to date to be classes as full and final ? Secondly . I have £5280 of payments to make based on £220 a month over 24 months left . What would be a reasonable full and final offer? I thought £3k . Any advise appreciated
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
How did your variation meeting go today ??? let us know - your suggested F&F offer needs to be as close to the expected dividend to creditors at the end of the term...if £3k is all that that can be raised you can ask for this to be offered, but it may a little low. Where would the £3k come from ?
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