Get expert opinion. This is the place for new questions to be posted.
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Rob1712
- Posts: 23
- Joined: Mon Jul 07, 2014 9:25 pm
- Location: United Kingdom
I am attempting to remortgage in 5th year of IVA. There is equity. 130,000 house value, 31,000 secured loan, 35,000 mortgage. 93,000 debt and paid about 43,000. So probably need to attempt to release. Say I do get a remortgage what happens? Is secured loan And existing mortgage paid off and do I take out a new mortgage for say 100,000? Can they prolong existing terms of length of current mortgage. It doesn't say anything about that in paperwork. I'm really confused! Also my IP are attempting to remortgage with their sister company. Does that mean I'm definitely going to be accepted as they get more money overall? Thank you so much if anyone can answer.
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lifenoteasy
- Posts: 3248
- Joined: Thu Feb 05, 2015 2:26 pm
- Location: United Kingdom
Speak to your iva provider and get them to fully explain the process otherwise you face signing something you do not fully understand.
They need to demonstrate that you are fully aware given that a financial product is involved.
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.
