www.iva.co.uk

We have our creditors meeting soon.

I was just wondering what would happen in the 4th year if we went to remortgage to get equity release, and the lenders refused to do so. Would this be a problem? and could IVA fail re this?

Just reading some posts where people are struggling to get mortgages etc..

Ang, there was a posting earlier today about equity release. From reading it, I gather it's more the trying to raise equity that's important. If you can't get a re-mortgage and/or there is no equity in the property because of house prices there's not alot you can do. One of the experts may correct me if I'm wrong, I'll try to find the link for you,
xx

cheers chris, never saw that one will look

think i found it in equity/remortgaging but no replies. Melanie must be having a well earned break tonight..

As a consolation, it is far harder to find mortgage funding now that this time last year, so you could find that this has worked to your advantage after all as, so long as you demonstrate you have made best efforts to secure funding you may not have to raise anything.

this was from Melanie, here's the full link
http://www.iva.co.uk/forum/topic.asp?wh ... 1104#82562

or she's working late....lol

probably the latter.

just read that link, thanks for that

Hi
Your IVA will not fail if you are unable to remortgage in year 4 due to affordability or if you do not meet the criterea for the mortgage
Regards

Angela - this is clearly detailed in your proposal if you read the "Dwelling House" section. If you cannot raise the money then the IVA concludes as a matter of course.

There you go Ang, your question answered,
xx

thanks everybody, for that. I have read it melanie.. i think it was so much to take in. I've read it again also..[:I] i think sometimes when you worry you can't see the wood for the trees..

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