www.iva.co.uk

hi everyone

HELP PLEASE

weve been told weve got to get two remortgage "no's" for our four year redemption thing in our IVA. Our house is worth 80,000 and between mortgage and secured loan balance they amount to 81,000. does anyone know if i can get a "no" online from anybody ,just so i can print it out to send it to Grant Thornton our IVA company. Organised a house valuation but getting majorly stressed over the remortgage problem, rang up about 5 companies, straightforward "no" on the phone but won't put it in writing.

thanks in advance

Hi Jacqecc,

Just to let you know that we had a similar problem. Our IVA company wanted 2 valuations but only 1 local company would come out to see us. We were in negative equity so the others were not interested.

On the bright side - if you can't remortgage then generally you can extend your IVA for another year, as we have, and this works out better in the long run as you are not paying extra on your mortgage for an extra 20 -25 years.

Hope this helps and good luck with the valuation.

Hi,

An online 'no' that you can print out should be fine. If you are struggling with that, as one or two posters are at the moment, speak to your IP and tell them this.

It does appear to be an obstacle at the minute, I'll be approaching this time soon and not looking forward to it to be honest. x

I'm sure that I can get written 'no' from my current provider and will try for others. If I can find another one to give me a negative answer then great, otherwise it will be back to my IP company.

Hi,We have just gone through this situation & our IP didnt ask for proof as they said they could look online & get a rough idea of our house price.I dreaded doing this but didnt have to in the end,I gave my IP a rough estimate & they looked online & concurred at that price.My Ip didnt even ask about remortgaging as they just knw it wouldnt be an option.

Sensible attitude there kieser, do you have to pay a further 12 months in lieu of equity? x

My IP will arrange for a valuation and we'll take it from there.

Beaurocracy baffles brains when it comes to remortgage paperwork. Let's hope more creditors rely on common sense in future - after all they are the one's who's lending policies blacklist us!!