Hi ,
Hope you are all well..
Am in the process of obtaining an IVA,just waiting for a date for the meeting.
Im confused, we currently have a mortgage(and are in negative equity) so it has no real bearing on the IVA proposal, however the fixed rate deal will expire in May of next year.If I am happy to continue with this company will the IVA have an effect on my options(deals, rates etc) at the remortgage stage.
I suppose I could remain on Standard variable rate which at present is less than im paying now...
Any observations advice would be greatly appreciated
many thanks
Dave
Your mortgage could well have an impact on the IVA if your new rate will be higher or lower than you are currently paying. Your mortgage provider is unlikely to be concerned that you are in an IVA when agreeing a new product for you, but it might be wise to check their policy on this in advance of the IVA being accepted, as this may change your priorities with regard to the most appropriate debt solution.
