Just wondering if anyone out there has had experience of their fixed mortgage deal coming to an end during the IVA?
Ours will do eventually and whilst I know it will be ok becuase of the low interest rates at present, I am curious to know if our mortgage company will offer us any other kind of deal since we are already with them, thankfully for us not that it matters if they don't...
Do mortgage companies run a credit check when its an exsiting customer simply taking up a new deal at the end of the existing one?
Just curious how it works??? Thanks [:I]
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
We are with Santander and they gave us a new deal as long as we asked for no more money, did it all by phone and our new fixed deal now runs out November 2012 and found them lovely to deal with by phone.
A lot of posters have managed to refix their deals I think.
It may well depend upon who your mortgage provider is.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi all, well I'm in a similar situation in a couple of months from now, but hoping to do a full & final before it comes up (not that that has a bearing on it) but for me the the mortgage company First Active no longer does deals and have said I would need to get a fixed deal from their parent company RBS.
Approved 3rd June 2009 first payment made on the day.
Offer made and settled - happy days
76.5k debt creditors:- Northern Rock, MBNA, Barclaycard, LloydsTSB and Capital One
That's bizarre tele2002 as we're with First Active too and they have written to us today to ask us to ring them to discuss what deals they can offer us??? Although the wording does indicate it might be a case of swapping to a different RBS product like you say which I am sure would not be accepted during the IVA.
From our point of view it's not essential as our mortgage will drop a lot when our fixed deal ends but from a point of view of peace of mind I was considering what they might offer and if it would be worth going for a fixed rate if it was offered - however I think realistically we might have to sweat it out on the SVR for a while and hope the Bank of England base rate stays low or lowish at least.
Guess I will have to ring mortgage peeps and see what they say?
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
my mortgage deal is coming to an end in a few months i have already spoken to my mortgage company and explained about my situation and they have said that as long as all i do is move the mortgage to another deal eg fixing or tracker then no credit check will be done as all they are doing is applying a different interest rate to the balance, the only downside is if you want a good fixed deal then there is normally a fee but my mortgage company will let this fee be tagged onto the mortgage balance
Northern rock adamant existing customers have to go on svr after fixed rate ends-not so bad at the moment but who knows what will happen in the future!!!!
full and final accepted January 2015
iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
must admit just looked at some of the RBS "deals" on offer and think with barely any equity we would end up paying way more so would be crackers to take those kind of "deals"!
The SVR is looking better every minute lol - well so long as the Bank of England don't raise it too much too soon!
"Hope is the feeling you have that the feeling you have isn't permanent." - Jean Kerr
IVA approved Aug 2008 - 6 year term - last payment made 6 Oct 2014. CC received 14 Nov 2014.
Hi there
Sorry if this isn't what everyone wanted to hear but I am also with Santander and they have just refused a further fixed rate mortgage for me, even though I had a fixed rate approved for a different part of my mortgage in April 2010. Apparently, this is Santander's new policy. We have been advised we will be reverting the SVR.
It will all be down to individual mortgage companies. They may be refusing as they know that the interest rate will be rising in the not too distant future so by putting you on SVR now they stand to get more money back in the future.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Til, I have only made an assumption that RBS won't give me a deal, currently I'm only on .25 above base, so what ever way I look at it I' in for a big increase!
Approved 3rd June 2009 first payment made on the day.
Offer made and settled - happy days
76.5k debt creditors:- Northern Rock, MBNA, Barclaycard, LloydsTSB and Capital One
