Are there are rules that IVA companies must follow? seems to me like once you sign your agreement they can do what they like. Very poor communication from my iva company and i have asked them for exact details of any communication and they are asking me for £10 to get the info? Also been told that no one who has finished paying their 60 payments on time will get a remortgage higher than 70 ltv. How can IVA ask for 85% ltv in the current financial climate? i would be in negative equity if this was based on actual LTV values for ex-IVA clients.
All IP firms must follow the rules as laid down in the terms and conditions. They also must operate within the terms of the IVA proposal and ensure any agreed modifications are met.
It is irrelevant as to what the LTV available to IVAers is at the moment because the proposal states 85% and that is how it is calculated. In the future it may go back up to 85% LTV and there were even products available in the past to those in IVAs with LTVs in excess of 90%.
