if we do not get a remortgage

[olympic_torch]

molly16.
it is 100% equity, but, on today's figures, you would be lucky to obtain a mortgage of 85% of the value of your property, so it's 100% of 85% if you understand what i'm rambling about.

[drowning-mummy]

Molly I totally understand. We have run up just over £24k in just under 2 years. Again, it was mainly because of having to children and going on two bouts of stat mat pay. If you look at our credit card statements, its all Tesco, petrol, Gas & electric, mobile phoen and catalogue bills. I was astounded at how quickly the debt grew and I think that is what has embarrassed me the most.
I'm not sure we will have to remortgage in the 4th year (have not yet been accepted) because we are in approx £2k of negative equity (having house valued in ten minutes, then again in 2 hours), I think we may be exempt from that part which is a relief but I wont speak too soon nor hold my breath. Must be such a worry for you, you would think that they would realise that you are doing your best and take into account the current credit crunch.

[Adam Davies]

Hi Molly16
The only way that you can release 100% of equity,if you are both in an IVA and are joint owners,is to sell
Please clarify your position with your IP