releasing equity

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sgu

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Post by sgu » Fri Jan 11, 2008 9:08 am
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How would one release an equity from their home if they have a very bad credit record?
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Welsh Boy

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Post by Welsh Boy » Fri Jan 11, 2008 9:17 am
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sgu

One option would be to contact your current lender and enquire about a further advance. If that is not available to you then you could contact a mortgage broker and seek their advice and assistance.

If you are in an IVA you would need the permission of your IP to be able to move forward with any potential capital raise.

Tony

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Beechy

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Post by Beechy » Sun Jan 13, 2008 5:19 pm
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Hi SGU

Welcome

Just seen your post, are you currently in an IVA or is this a general enquiry about raising finance when you have a poor credit history

Dave Beech
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flozza

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Post by flozza » Sun Jan 27, 2008 10:49 pm
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HI Tony,

I wonder if you can advise me please. I am currently in an IVA and due to surgery had to stop work for a while and then reduce payments. I now have equity in my house and would like to consider a full and final settlement.

The IVA company have now said that my supervisor had no right to reduce my payments whilst my house is on the market to offer a full anf final. My only options they said are to remortgage or go bankrupt. My house is empty and I have kept up to date with mortgage payments.

I previously had a tenant for two years and thought if I could remortgage I could find another tenant. I have now started work in America whilst having post surgery treatment as my family are here. Is it possible to remortgage? I ma worrying sensless now and don't know which way to turn. Please advise.
Thank you.
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Welsh Boy

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Post by Welsh Boy » Mon Jan 28, 2008 8:16 am
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Hello flozza

I will do my best to help you but a lot of the information that I would need from you would be quite detailed and personal so it would be better if you contacted me on my email address antony.parsons@btopenworld.com

If you get in touch with me here I can advise you accordingly.

Tony
F.P.C. 1,2,3 Qualified
Financial Planning Certificate
CeMap Qualified
Whole of Market Mortgage Broker
Managing Director : Debt Advisory Bureau
Debt Advisory 4U
Principal : All Mortgage Products

Directly Authorised with FSA :304244
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