Thanx again Melanie,
If I have any probs I will be in touch.
Alan...

Made mistakes and paying the price!!!

Ok Cheers.

Made mistakes and paying the price!!!

Will the remortgage amount be based on the value in 4 years or based on the valuation now or can you request a set figure of say £10k to be built into the proposal? just to clarify am I correct in that there has been no change in legislation as Melanie stated?

Made mistakes and paying the price!!!

Hello Andy, thanx for your response. I will give you a few more details. A proposal was drafted which included our house value at £160k with mortgage outstanding of £135k this left £1k to be introduced at the end of year 4(using the 85% rule). This proposal was witheld as we had mortgage arrears of ...

Thanx Melanie,

I will question their advice and may well change the IP as I need to be confident of their ability as my life would be in their hands.

Alan

Hello, thanks for your responses. I am in the ealy stages of setting up an IVA and have spoken to an IP, they initially told me that 85% of the house value less the outstanding mortgage would be paid into the IVA pot at the end of year 4 which in our case would be a few thousand pounds and that toge...

Hello, I am considering an IVA which will also be linked to an IVA for my wife. I have been told that at the end of the 4th year the full amount of equity in our joint house has to be released and paid into the IVA fund. Is this correct? I thought it was only 85% of LTV Is it in legislation that all...