If I can't remortgage what will happen ?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
Post Reply
 
 

Allison.s

User avatar
Posts: 1
Joined: Wed Jul 22, 2015 2:06 pm
Post by Allison.s » Wed Jul 22, 2015 2:06 pm
Quote
I am in the final year of my IVA, my repayments were extended by 1 year and I have been asked to release equity by re-mortgaging. Due to the IVA I'm having trouble getting anyone to take this on. If I cant re-mortgage what will happen?
Top
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:
Post by Michael Peoples » Wed Jul 22, 2015 2:11 pm
Quote
If you cannot remortgage and there is equity the likelihood is that your IVA will be extended by another year. This however assumes yours is a standard IVA so you would need to check with your own IP to be sure. You could try and offer a lump sum from family or even get a secured loan if you want to complete the IVA sooner.
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
Top
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Wed Jul 22, 2015 3:12 pm
Quote
Might I ask why your repayments have already been extended by a year ? Was this at the outset or towards the original end date ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
Post Reply
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”