I am in year 4 of an IVA (now with Creditfix). We are currently on a standard variable mortgage with Nationwide. Would we be able to change to a fixed mortgage with the same lender?
Based on another post today it looks as if you may not hit too many problems.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
No, it is not prohibited by the IVA and many have managed it. A reduction in your mortgage payment increases your disposable income, which, in turn, can result in your creditors getting a better return.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I managed it earlier this year, it was a bit long winded and fraught but we got there in the end. My IVA is with Creditfix and my mortgage is with Bank of Ireland (formerly Bristol & West). I had to pay £150 in fees to the solicitor because of the RX1 restriction issue. My advice is to make it absolutely clear to CF that this is a mortgage product switch not a remortgage. Good luck!
I too have completed a mortgage change (well am sat on the paperwork). Easy as pie with the Halifax. Remember though, as Foggy rightll states, this will increase your disposable income potentially. However, this only counts at your review. So if you get the timings right, you could enjoy a years worth of savings. I waited to my last year and will use the difference as over payments once my IVA as been completed.
just in the process of changing to a better rate with the mortgage ourselves. It's all been done online, so no awkward questions asked so far! It's only going to save us about £8 a month though so no big deal if it doesn't work. Our mortgage is with santander (as are some of our IVA debts)
getting there ....
Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
