hope

[hara]

Dear all,

I have read in the papers and there appears to be some expert opinion suggesting that the interest rates are going to fall.there is even there is suggestion that they may fall to Three and half percent.

Do you think that people in IVA may benefit by reduced mortgages.

I managed to get a reasonably agreeable fixed rate for a year last march. I am hoping to get a favourable rate,when the time comes next March.

Any opinions?

Hara.

[MelanieGiles]

If interest rates do fall, this will certainly help the number of people coming to the end of fixed rate mortgages who are facing large jumps in payments. Other than this, the only ones who will benefit will be creditors as the lower the mortgage reate, the higher the IVA contribution.

[hara]

Dera Mrs.Giles,

I doubt if the creditors will benefit in all cases.

In my case my mortgage went up by almost 300 and other expenses as well leaving a surplus of around 500.

I am contributing the same amount for IVA.

Hence if any thing in my case at lesat it wolud make my life a little easier.

Should I benefit, my mortgage shall be the amount that iI paid when I started IVA.

My surplus will probably increse but not to exceed the 1000 pounds I am paying to IVA.

Thanks.
Hara.