I want to try and remortgage to pay off the debt in full. However I only have 4 years left on my mortgage. I will need a mortgage period for longer than that is that possible. I think I have enough equity in my property do this.Is it true that the remortgage can not exceed the term of my current mortgage? If so this is crazy because I am no longer in the situation that caused me to get my IVA. With the majority of Debt to HMRC. I no longer in a buisiness that drains me and I am able to afford another mortgage easily. Or I am going to have to sell my House.
Speak to Shaun or Ryan (found under Ask the Experts).
Whilst in an IVA it is almost impossible to remortgage but they should be able to explore the options with you.
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.
With HMRC as a creditor you may be forced to sell if you cannot raise the funds. A remortgage would be very difficult but you could possibly get a secured loan to clear the debts and Shaun Vickery has access to these products. His details are in the experts section.
Standard protocol rarely applies when there are debts to HMRC so the length of the remortgage and any extension in lieu of equity are also unlikely to apply.
