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Jamie.jk
- Posts: 4
- Joined: Fri Jan 18, 2013 12:44 pm
6 months left and need to look at equity on house. What is th process please?
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
Welcome to the forum. Your proposal document should detail the process you need to follow, or check with your IP to establish the process in full.
You normally have to get a couple of valuations for your property so that you can establish the amount of equity in the property for remortgage purposes- likelihood is it won't be possible to remortgage and therefore paying an additional payment won't be possible.....if this turns out to be the case you then might be asked to pay an additional period of monthly payments or your IVA may end ..it will depend on what is in your proposal documents.
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denver70
- Posts: 30
- Joined: Tue Mar 22, 2011 11:25 pm
- Location: United Kingdom
hi sorry for hijacking this thread - I am in the same boat nearly
how much does the equity need to be as i have about 20k equity but will only be about 2.5k of 100% full payoff at term.
will they accept that i have paid more than original dividend agreed or will i still have to pay the 2.5k
