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Posted: Sat Oct 11, 2008 9:38 pm
by juditdf
With regard to my previous question, should the Practitioner arrange to change my mortgage to an interest only mortgage once we are in an IVA?

Posted: Sat Oct 11, 2008 10:11 pm
by kallis3
Hi, and welcome.

I would imagine that you will have to arrange to change the mortgage to interest only yourself.

Posted: Sun Oct 12, 2008 12:51 am
by David Mond
Depends on your age and how at some stage in the future you'll be able to afford a repayment mortgage again. The Practitioner cannot insist you do this unless it was a term of your arrangement.

Posted: Sun Oct 12, 2008 12:55 am
by MelanieGiles
Your IP has absolutely no control over your mortgage and should not. If by switching to an interest only mortgage you may release additional disposable income, this may be suggested as an option by your IP, but you should only take advice with regard to your mortgage from a properly qualified financial advisor.