Hi All, we are set to lose a monthly income of approx £500 due to redundancy, our mortgage payments are set to go down by approx £450 in April due to fixed rate ending. Will we be able to keep this to make up the shortfall?
That sounds perfectly acceptable. Contact your IP and send evidence of both and you should be fine. You may need a short payment break if the timing issues are different but I do not see this being a problem either.
Thank you for your speedy reply. As soon as I have my final details through from employer I will forward this off to IP. That sets my mind as rest, thanks again.[:)]
Of course - common sense would have to prevail in this situation, and your IP would be very silly to take the money from you on the one side, and then leave you with insufficient earnings to be able to fund your IVA. As you will still be £50 short, you may need to ask for a reduction in payments as well.
