Eventually received our IVA closure information after lots of arguing with the IP

[PT23]

Eventually received our IVA closure information after lots of arguing with the IP.
Still need to downsize as cannot afford the mortgage.With our mortgage company 15 years and never missed a payment but they won't give a clue of the possible outcome after an IVA without a formal mortgage application. We would be looking to reduce our mortgage by 2 thirds so would have thought the mortgage company would be glad to help us get in a position to be able to start paying full payments again but doesn't seem that way. Would be reducing the repayments from approx £750 to £300 so thought this would be beneficial to all parties as would be guaranteed payment affordability.
Can anybody help with this?

[Michael Peoples]

It seems harsh but it would depend on th bank and their underwriters. Alternatively if your IVA started more than 6 years ago there may be other options so speak to a broker.

[Foggy]

Have a word with Shaun Vickery or Ryan <s>Radcliffe</s>. Both are brokers with experience in placing mortgages for ex IVA'ers.

You can find their details under the "Ask a Question" button (top left) and scrolling down to the exerts details section.

Edit -- oops -- it's Radford -- sowwwy [:I]

[MelanieGiles]

Good to see another case successfully concluded. Hope you manage to find the secured lending you are looking for.

[luluj]

Ryan Radford (not Radliffe) or Shaun Vickery maybe able to offer you some help in this .... both brokers on the forum of whom have helped many forum members in differing circumstances

[Foggy]

Oops -- apologies on getting the name wrong Ryan

[Ryan]

Hi guys,
This is something I am sure I can help with.
I see you have contacted me directly PT23, so we can talk via email.
Thanks for the recomendations guys, I don't mind you calling me anyhting people, just as long as you call!!!

[PT23]

After 12 months of fighting our corner with current mortgage company, they eventually agreed to let us move and re-mortgage. We're having to downsize but will be saving £400 per month on a 10 year fixed rate which we can come out of with no redemptions after 5 years so a good deal we think. Just wanted to update people to let you know that there is light at end of the tunnel, even if it is far away. Moving in about 2 weeks

[Foggy]

Enjoy your new home.

[Lisa Thomas]

Thanks for keeping us updated. Good luck with the move.

[Ryan]

Nice to hear another lender has seen sense, and lent to people who have been in an IVA.
Good luck in your new home and for the future