www.iva.co.uk

Posted: **Sun Oct 12, 2008 9:15 pm**

hi, we were going to go through an iva with synergi but after reading this have decided not to!! but we would like to know if we find an iva company is it true that as we have an interest only mortgage with no equity we do not need to remortgage at the end of iva, but to pay an extra yr? we are with DMP but its going to take forever, we just dont want to loose the house but can make up the payments after IVA ended to get the mortgage paid off, any help much appreciated x

Posted: **Sun Oct 12, 2008 9:28 pm**

hi annie and welcome

sorry i am not a expert and do not know the answer to your question but hopefully an expert will be a long shortly!

love barb x

Posted: **Sun Oct 12, 2008 10:55 pm**

taking this back to the top!

barb x

Posted: **Sun Oct 12, 2008 11:43 pm**

Hi annie

The problem with the final year equity release clause, is that it is a bit of a lottery - in that you do not know how much (if any) you will have to raise until the final year when you get your property revalued and find out what equity there is available.

You will only be required to raise a maximum 85% loan to value, and your current mortgage is on an interest only basis, the only way you will increase the equity is if house prices rise over the next couple of years.

If you have decided against using the above company, you might like to search on www.iva.com to see reviews of alternative firms which their own clients have provided

Posted: **Mon Oct 13, 2008 6:29 am**

thankyou, we will deffinately check out your link, synergi seem very helpful on the phone but after reading the reviews im totaly put off, we cant afford to upset the creditors by making them wait so long!! x

Posted: **Mon Oct 13, 2008 8:22 am**

Visit:
http://www.insolvency.gov.uk/insolvency ... ex%206.doc

This is the current Protocol clause for property re-mortgage (if any equity) in the fianl year of the arrangement in Protocol compliant IVA''s and comes from the Insolvency Service web site.

Posted: **Mon Oct 13, 2008 7:56 pm**

just wondered melanie....could i have you propose an IVA...if i go to your website?? XX

Posted: **Mon Oct 13, 2008 8:01 pm**

I would be happy to help annie, if I can in any way. My website has the necessary details should you wish to make contact.

Posted: **Mon Oct 13, 2008 8:02 pm**

Hi Annie,

If you leave your details on Melanie's website, someone from her team will get back to you.

Posted: **Mon Oct 13, 2008 8:03 pm**

im going to do it right now!! XXXX

Posted: **Mon Oct 13, 2008 8:12 pm**

Hi Annie

Melanie and her team are wonderful and gave me so much help drawing up my proposal.
She is highly recommended by all her clients and a thoroughly lovely lady!!

Good luck
Emma[:D]

Posted: **Mon Oct 13, 2008 8:28 pm**

brill!!! its good when you get the comments and reviews here, like i said we were about to sign up with synergi but the reviews totaly put us off, tho they are great on the phone but of course they had no money off us yet!!!