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Imhotep
- Posts: 382
- Joined: Sun Aug 01, 2010 11:36 pm
- Location: United Kingdom
We are just about to send off all the paperwork for our 4th review. I'm expecting an uplift in the final year as our mortgage payments have reduced by 70.00 and our wages have had a whopping 2.00% increase.
I'm expecting to have to go through the property valuation process shortly and the application for remortgage submission.
Do you have to go through the whole mortgage application process? Twice? Then wait for the (possible) letters of refusal?
It all sounds very convoluted. Especially for a legally binding process.
Also, will these possible remortgage refusals score negatively on your credit rating?
Last edited by
Imhotep on Tue Sep 30, 2014 5:06 pm, edited 1 time in total.
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Goosed
- Posts: 953
- Joined: Tue Jan 19, 2010 8:40 am
- Location:
I`m awaiting the results of my fourth year review Imhotep,
I`ve got to attempt to remortgage in February.
I guess you`ll need to ask your own IP how they wish you to approach the situation regarding how many valuations you need to get and remortgage applications you need to make, as different IP`s/IVA companies will have differing criteria.
With regards to remortgage application refusals, I`ve seen it mentioned before about the negative impact they can have on credit ratings...
Could our credit ratings possibly get any worse than they already are???
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
Eric Cantona
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Imhotep
- Posts: 382
- Joined: Sun Aug 01, 2010 11:36 pm
- Location: United Kingdom
Challenge accepted!
IIRC you are with StepChange also? I'd be very interested to hear how it all goes.
