www.iva.co.uk

Hi All,

Been a while since I have posted, things have been a real struggle these past 9 months.

My mortgage deal is coming to an end soon and was just wondering how everyone else got on when it came to getting a new deal on your mortgage, where you able to stay with your current lender?

Thanks
Kitty

Hi Kitty, sorry to hear you've struggled recently, have you spoken to your IP?

My mortgage deal ended and I stayed with the same company on SVR. Not sure what others did but worth hanging around to fine out. x

Hi Kitty,

It may well depend upon who you are with - some companies won't entertain you taking out a new deal and will just stick you on SVR.

Speak to your mortgage company and see what they say.

Hi Lesley,

Thanks for your reply yes i did speak with IP but they said my payments in my IVA are fixed for the 60 months so i take it that means they cannot be reduced.

Kitty

could ask for a meeting to tell the creditors about your mortgage changes? we did this early on in our iva

Your payments can be reduced by up to 15% by the IP without resorting to the creditors, anything over that has to be a variation meeting.

Will your payments not go down if you do SVR?