Our mortgage provider (Northern Rock) have sent us a letter saying they will waiver the early repayment fee on our fixed rate 7.9%mortgage.Could we remortgage with another lender or would it be at a higher rate if we did as we are 2 years into our IVA.
Agree with Ginger - you are unlikely to find anyone who will give you a remortgage whilst in an IVA.
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
No other lender will likely take you, your rate is however very high. Can you not negotiate with NR to go on another fixed rate or tracker at a better rate? The other unfortunate thing is those blasted admin fees which you have to pay to go on a fixed rate.
"Just when you think that you can make ends meet, somebody moves the ends."
Nobody will want your business while an iva is still on your credit report. The best you may get is your current provider giving you a new deal where no extra borrowing in needed.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
