What happens if you have a 4th year equity release clause and in year 4 you have equity but the property is worth more than 3.5 times your annual income. From what I remember when I bought my house most of the mortgage lenders I looked at would only lend 3.5 times annual income. Using my situation a...

Was looking through the list and I just wondered how comes some people's Bankruptcy lasts for several years and others only have 12 months. I always thought a Bankruptcy order would last 5-7 years.

Thanks for the advice Melanie

Not the best news but I will have to deal with it shortly. A bit strange to me now loking back why my IP recommended an IVA when maybe a BR at the time would have been better.

Hello me again just wondered if anyone could give me advice on this situation. I moved house in Oct 05 and got a Let-to-Buy mortgage for 70k and left my previous property tenanted rented out @£900pcm which covered the mortgage payments. Previous property 1st mortgage 60k = £300pcm 2nd charge 60k = £...

Hello Anyone know what would be involved in changing from employment to self employment during an IVA as I am considering this. Obviously I would need initially to speak to my IP as I would no longer recieve monthly payslips from my employer to send to them and I am guessing my £400pcm payment would...

Reply from mortgage lender blaming an admin error (lol) and saying that payments from now on only for the secured amount of the mortgage, nothing about refunding payments made to date for the last 10 months, so another letter to them requesting this I think.

Thank you all for the quick excellent advice. Both secured and unsecured parts or the mortgage loan form one direct debit payment (currently £575pcm). I will contact my mortgage lender and IVA adminsitrator straight away to get the payment amended to take the secured part of the mortgage only and le...

Hello all, first post so apologies if the topic has already been discussed. I had my IVA agreed in July 2006 and I take home approx £1200pcm I was allowed £400 for my mortgage And had to pay £400 for my IVA for 60 months & The remaining £400 was allowed for other essential costs, Council tax, insura...