Hi all.
I know I need to double check with my IP, but was wondering if this had happend to anybody else:
Our term was originally 5 years plus extra year if we could not get a re-mortgage. A couple of years ago my hours were reduced at work and tax credits stopped, so we the payments were reduced and an extra years of payments was added and agreed with creditors. I then assumed it was a total of 6 years done. But now we are in our fifth year and just assumed next year was our last, but could it be possible that it could carry on another year after that!!! So 7 years in total?
Thanks again.
I guess it is possible if you have equity, your current extra years payments are to make up the shortfall of the original expected dividend, the equity is a separate issue so I assume you will be asked to get a valuation 6 months prior to the end of year 6 and then take it from there
