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by Welsh Boy
Sat Oct 24, 2009 9:42 am
Forum: Ask IVA Forum and Industry experts
Topic: Interest Only Mortgage High Risk!
Replies: 17
Views: 1911

What a load of rubbish! Interest only mortgages are not a high risk at all if managed correctly. The only difference between an interest only mortgage and a capital repayment mortgage is the fact that with a repayment mortgage you will be paying off an element of the capital debt albeit very little ...
by Welsh Boy
Mon Oct 19, 2009 7:37 am
Forum: Ask IVA Forum and Industry experts
Topic: Mortgage lending to get even tighter
Replies: 21
Views: 2687

Just listened to an interesting conversation on Radio 5 from a person who took a 125% mortgage with N.Rock and then unfortunately had his property repo`d. I posted on here years ago that we would have a problem with N. Rock and this type of product and also negative equity secured loans and look at ...
by Welsh Boy
Wed Oct 14, 2009 8:28 pm
Forum: Harrassment by creditors ?
Topic: Self Cert Mortgages
Replies: 11
Views: 3824

Michael is right, as long as you meet the contractual payments your lender will not have a problem with you and you will eventually end up on their svr.Tony
by Welsh Boy
Wed Oct 14, 2009 2:43 pm
Forum: Harrassment by creditors ?
Topic: Self Cert Mortgages
Replies: 11
Views: 3824

They have been talking about this 10 years ago, it is a very small part of the mortgage market and would make little difference at present. Reading through the article, it`s factually incorrect as there are more lenders lending on a self cert basis than stated but I suppose that doesn`t make such go...
by Welsh Boy
Mon Oct 05, 2009 7:15 pm
Forum: Ask IVA Forum and Industry experts
Topic: Re mortgaging
Replies: 5
Views: 1267

kieser Speak to your IP first and then contact your existing lender. Explain to them you need to capital raise to clear your iva and how important it is to be able to do so. By working with you they would be making things more affordable for you and surely that has to be in their interest. Best of l...
by Welsh Boy
Mon Oct 05, 2009 4:12 pm
Forum: Ask IVA Forum and Industry experts
Topic: Re mortgaging
Replies: 5
Views: 1267

kieser

If your property is worth £125,000 and you have £95,000 secured against it you are going to have a lot of difficulty capital raising in the current marketplace. Tony
by Welsh Boy
Fri Oct 02, 2009 7:08 pm
Forum: Ask IVA Forum and Industry experts
Topic: HiI am currently in an IVA
Replies: 1
Views: 990

JJ2007 You would still need a deposit to fund your percentage of the purchase. If you take a property of let`s say a value of £100k and the housing association own 25% then you own the other 75% i.e. £75k. If you then ask to borrow £75k you are in essence asking for a 100% mortgage, hope this makes ...
by Welsh Boy
Sun Sep 27, 2009 7:39 pm
Forum: Ask IVA Forum and Industry experts
Topic: Mortgage advice
Replies: 6
Views: 1513

JAN2410

Why don`t you contact your existing lender and ask if your present mortgage can be ported on to another property.

They already know your excellent payment profile and that should be in your favour. Tony
by Welsh Boy
Sun Sep 27, 2009 11:30 am
Forum: Ask IVA Forum and Industry experts
Topic: Mis sold Mortgage / Advice
Replies: 5
Views: 1713

life after What a sad story to read. Your broker will be able answer any queries you have as they were the ones offering advice to you. Think of all the questions you want answered and list them, that way you will cover each one and not forget anything. The surveyor also will have to provide rationa...
by Welsh Boy
Thu Sep 24, 2009 4:47 pm
Forum: Ask IVA Forum and Industry experts
Topic: Hi Welsh boy,
Replies: 4
Views: 1143

Hello Hally The best advice I could offer is to contact a broker and give them permission to do a search on yourselves,they will ask for more personal information on you and only by doing so will they ascertain what is available with regrad to ltv and rate. A further point some lenders ignore defaul...
by Welsh Boy
Tue Sep 22, 2009 9:54 pm
Forum: mortgages
Topic: Off-Set Mortgage
Replies: 5
Views: 2121

Steve

I don`t think the fact of you having an off-set mortgage would be an issue.

An off-set as you know is just an hybrid type of mortgage account.

Once your IP gets down to working with you the only issue will be what is actually secured against the property and what equity there may be.Tony
by Welsh Boy
Mon Sep 21, 2009 7:23 am
Forum: Ask IVA Forum and Industry experts
Topic: Mortgage query -
Replies: 8
Views: 1345

Mrs Moody

Melanie is right by saying you need to contact them.

They would not put you on a higher rate and take advantage because of the iva.There would normally be a reversion to their svr.
by Welsh Boy
Sat Sep 19, 2009 8:28 am
Forum: Ask IVA Forum and Industry experts
Topic: Anybody managed to find a remortgage deal?
Replies: 7
Views: 1859

plasticdaft I don`t know what you mean by ordinary mortgage? A sub prime or adverse mortgage is no different to a "ordinary mortgage" as you put it. The difference tends to be the interest rate and having said that a coyple of years ago you would be hard pushed to find to much of a difference with s...
by Welsh Boy
Sat Sep 19, 2009 12:02 am
Forum: Ask IVA Forum and Industry experts
Topic: Anybody managed to find a remortgage deal?
Replies: 7
Views: 1859

Hello ordinary-world,

There are deals out there at present but they are not as they were a couple of years ago.

The loan to value has been lowered considerably and also the rates have increased greatly, not ideal but I am confident it will improve.Tony
by Welsh Boy
Tue Sep 15, 2009 7:19 pm
Forum: Ask IVA Forum and Industry experts
Topic: My mortgage period is coming to an end 1st Oct.
Replies: 4
Views: 1182

moofarmer Why don`t you contact your IP and ask them if you can continue making the same payments into the mortgage. You will then in theory be making overpayments and as such reducing the capital debt which will help you to make a potentially better return to your creditors in year 4 because you wo...
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