About to try and get rejected for the final payment option through remortgaging and seeking a loan.
If I have a valuation of £130,000 with a settlement figure of £74,250 presumably I need to apply for a mortgage of £110,500 ( 85% of the sale value) and if successful give the IVA the difference between the settlement of £74,250 and £110,500= £36,250.
Is that correct
Last edited by lostoncontact on Sun May 22, 2016 1:27 pm, edited 1 time in total.
You will be rejected for a remortgage so I wouldn't worry about it. If your paperwork doesn't state a secured loan then you may very well have to continue on for a further twelve months.
Sharing from experiences of dealing with debt
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