I would like to ask if possible to remortgage while I'm on IVA.
I've been on IVA for 3 years now , I am on 4.9% on my mortgage with NRAM and £98,000 left on my mortgage, and I am paying £750 a month. In the current rate from Bank of England , I can save about £200 - £300 a month if I remortgage. I was thinking to remortgage to pay off my remaining debt. The current value of my property is £150,000 and I can still afford to pay this monthly if I pay off all my debt from remortgaging. Is this possible, can someone recommend a mortgage lender who deals with IVA. Thank you in advance.
See Shaun or Ryan on ask the experts link on this discussion board.
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.
You will struggle to get a mortgage for at least three years as you will have that long before your IVA completes. You could consider a secured loan to settle the IVA now and then remortgage down the High Street when your credit is cleared up. Shaun has access to secured loan products and he and Ryan could advise on any possible remortgage.
