i`ve completed 5 years of my IVA but as part of the term &conditons i have to remortgage but i have already being rejected by one lender because of my poor Credit score.What option will i`ve if cannot secure a remortgage me , my family are literally at breaking point.
Hi Rudolph. The answer will, hopefully, lie in your original paperwork under the equity conditions. This should detail what will happen in the event that you are unable to remortgage. If it is silent on this subject you will need to speak to your IP.
Which company are you with?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
What does the proposal say you have to do if you cannot remortgage? In many cases the IVA will merely end at the end of the 5th year, or you may have to pay for an additional year if there is equity that you could technically raise if you could find a willing lender.
I am really suprised that your IP appears to be giving you no support or guidance in this important area.
