remortgage

[addbridge]

Have been in a iva for about a year and our mortgage deal is due to run out in jan 2012 will i have problems with Abbey to get a new deal and if they refused us would anyone give us a new mortgage deal?
ps have never missed a mortgage payment xx

[Andrew Graveson]

Hi addbridge,

It's enormously unlikely that you will currently be able to move your mortgage to a new lender while in an IVA.

Abbey may offer you a replacement product (fixed rate, tracker, discount etc). Contact them three months before this deal ends to enquire.

If they decide not to offer a replacement product you will move onto their standard variable rate.

[addbridge]

thats ok dont mind just going on a standard rate if i have to but was just worried that they would not even do that.

[Andrew Graveson]

Hi there.

So long as there is some "term" left on your mortgage (ie. most of us sign up to terms of 20 or 25 or 30 years) they will have to move it to the SVR at the very least.