My equity date is December 2015 and I have a few queries.

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Adnan07535

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Post by Adnan07535 » Tue Jul 21, 2015 6:14 am
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HELLO GUYS MY EQUITY RELEASE DATE IS DEC 2015 MY SHARE IS 30000 ME AND MY WIFE R JOINTLY PARTNER BUT SHE ISNT IN THE IVA JUST WANTED TO ASK WHAT CHANCES DO I HAVE FOR REMORTGAGING I ONLY EARN 9000 A YEAR AS SELF EMPLOYED AND CAN THEY FORCE ME FOR A SECURED LOAN ? AND WHEN APPLYING FOR ANY LOAN DO I HAVE TO GIVE HER INCOME DETAILS TOO SHE EARNS 6000 A YEAR THANX
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Foggy

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Post by Foggy » Tue Jul 21, 2015 8:31 am
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You won't get a remortgage and an extension of 12 months will be the likely outcome. They cannot force a secured loan unless this is specified in your arrangement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Michael Peoples

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Post by Michael Peoples » Tue Jul 21, 2015 9:21 am
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You would probably struggle to get a secured loan anyway as the income seems low. An extension does seem the most likely outcome.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Adnan07535

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Post by Adnan07535 » Tue Jul 21, 2015 10:23 am
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OK THANX NO IT DOESNT SAY IN MY PROPOSAL THAT I WILL B ASKED TO GET SECURED LOAN IT JUST SAYS THIRD PARTY LUMP SUM OR 12 MONTHLY INSTALMENTS THANX 4 UR ANSWERS
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Lisa Thomas

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Post by Lisa Thomas » Tue Jul 21, 2015 10:54 am
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Hi there it sounds like you have answered your own question you have to find a lump sum or extend for another year.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Adnan07535

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Post by Adnan07535 » Tue Jul 21, 2015 11:47 am
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HOPE THIRD PARTY LUMP SUM DOESNT MEAN A SECURED LOAN OR IS IT ???????
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Foggy

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Post by Foggy » Tue Jul 21, 2015 11:51 am
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No -- a third party lump sum is not a secured loan. It generally means a gift or loan from friends and family.

BTW -- could you, please take your caps lock off. It is considered shouting of forums to type in capitals ( and it is hard on old eyes :-) ) Thanks.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Tue Jul 21, 2015 11:56 am
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No it means someone will very kindly 'gift' you a lump sum to settle the equity figure.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Adnan07535

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Post by Adnan07535 » Tue Jul 21, 2015 12:12 pm
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Ok thanx lisa and sorry for that have a great day
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Adnan07535

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Post by Adnan07535 » Tue Jul 21, 2015 12:14 pm
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Thanx foggy sorry for the caps lock
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Lisa Thomas

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Post by Lisa Thomas » Tue Jul 21, 2015 3:15 pm
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NO NEED TO APOLOGISE - GLAD WE'VE CLEARED IT UP FOR YOU.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Lisa Thomas

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Post by Lisa Thomas » Tue Jul 21, 2015 3:18 pm
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sorry it was my turn to leave caps on! I'm not shouting at you Foggy!
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Foggy

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Post by Foggy » Tue Jul 21, 2015 3:58 pm
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas

sorry it was my turn to leave caps on! I'm not shouting at you Foggy!
Lisa !!! [:0]
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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