remortgage

[indebtforever]

hi am i wasting my time trying to remortgage at the present time whilst in an iva with the way the market is??i have an equity clause in my iva but this is a set amount at £1025 i think i need to raise 12k to finish the iva and have approx 20/25k equity.i have been in touch with andrew gravesons office but am waiting reply

[MelanieGiles]

I would wait to speak to Andrew. He has his finger on the pulse with the mortgage markets at present and will be able to counsel you on what is possible.

[indebtforever]

cheers melanie i will sit tight till he gets back to me [:)]

[Lisa2009]

Andrew is brilliant, if theres anything out there for you he WILL find it.
He will get back to you just sit tight.

[Emily]

A lot of the 'subprime'brokers and even some IVA firms like DFD have their own mortgage specialist to help in these matter of releasing capital gains to Creditors....but they tend to be bankrolled by foriegn banks -US and Eurozone which is drying up due to own loses....which they ares till feeling as the credit bubble deflats rather than just burst. Remortgaging to pay off debts is very hard these days; unless you are switching lenders and trying to negotiate better mortgage rates which is not what you are intending. It is the worse time now to try to free up Eq now to spent on what people want as in the good old days but no harm in trying.All Banks are still releasing capital gains but terms and conditions are VERY tight. The continous rapid fall in all house price/consumer credit problems are the biggest reason why most wouldn't do it, the fall is very steep and broke through all expectations.