I have been given a final settlement figure for my IVA. Now they want me to send income and expenditure statement, mortgage statement, PPI claim form and a signed deed of assignment. If I pay the final settlement figure given to me are they still going to force me to remortgage to deep into the equity in my property if any?
If you are going for a full and final including your PPI etc then you should not have to try and remortgage.
You wouldn't be able to remortgage anyway so would likely carry on for twelve months if a full and final wasn't accepted.
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What do you mean by settlement figure? Where are the funds coming from for this?
If this is all to do with your share of equitable interest in the property then all you will probably need to do is show that the remortgage is not possible to your IPs satisfaction and the 12 month extension will apply instead.
That's if you have sufficient equitable interest (usually over £5k) for it to apply anyway - you might want to challenge the valuations used if it makes a material difference.
William we have since spoken but for the benefit of other readers who might be interested - the PPI assignment document is a standard request - it means the IP can get on and issue your CC without waiting for any PPI interest to be deal with first.
Your firend has offered to pay a lump sum in F&f settlement of your remaining payments. This should include the extended period in lieu of equity.
Hopefully creditors will accept the F&F offer after which your IP should be able to issue your CC, remortgage the restriction on your home and you get to do what you want with the property and keep your equity.
Best of luck.
The mortgage statement will probably be to establish the equitable interest is over £5k and that the 12 month extension applies.