NRAM

[Christabelle_sparkle]

Hi
can my mortgage provider cancel our mortgage just because we are in an IVA?

[karendwickhama]

Have they cancelled the mortgage or sold it to another company? My loans with NRAM have been sold to Marlin Europe.

[Christabelle_sparkle]

Hi
no they have not cancelled our mortgage but was wondering if it is something they can do to their customers who are in an IVA?

[nickjohn]

I don't believe they can cancel your mortgage just because you are in an IVA, unless there is some specific wording within your own mortgage which says you cannot be bankrupt or in an IVA.
Assuming that is that you have continued to make all your mortgage payments.

[Christabelle_sparkle]

Hi
We have never missed a mortgage payment ever and I am assuming that NRAM will know that we are in an IVA as we have had it for 4 years now?
We have been with them 8 year's and had a mortgage for 15 years. I am just worried whether mortgage companies can just cancel your mortgage just because you are in an IVA?

[kazzafunk]

I've not heard of it before on here so I think you are ok. I think if your fixed rate ends during an IVA they can be funny about giving you another fixed.

[MelanieGiles]

Technicslly most mortgage companies have determination clauses which could kick in once someone has entered into an IVA - but in my personal experience I have never seen one actually happen.

[Christabelle_sparkle]

Hi
thanks for your replies
Melanie if this is the case then Insolvency practitioners should be telling potential clients of this before they agree to an IVA shouldn't they?
After all it is a very serious thing to miss out, don't you think?
what would happen me and my family if my mortgage was cancelled. Ultimately homeless.