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Posted: Thu Jun 16, 2011 7:13 pm
by Zimmy
Can I take a 2 month mortgage holiday to deal with unexpected bills without telling my IVA provider
Posted: Thu Jun 16, 2011 7:17 pm
by kallis3
Hi Zimmy,
I think that technically you should tell your IP as they will probably want some of the money paying across to them.
It's up to you whether you tell them or not but you should always be honest with your IP.
Posted: Thu Jun 16, 2011 9:43 pm
by coupleplus1
Hi Zimmy
Our mortgage provider - Northern Rock needed a letter from our IP to ok our morgage break, and we had to do an affordability check .... did we have any loans, what were our credit card repayments, nice to know they understand what an IVA is!
They also were a pain when they were receiving the faxed letter from our IP, saying they hadn't received it and didn't have an email address for the IP to email!
Good luck
Andrea
43 down, 17 to go (or 29 to go depending on the remortgaging clause!)
Posted: Thu Jun 16, 2011 11:58 pm
by MelanieGiles
Most lenders will want a letter of agreement from your IP company, and they will have their details as they would have been written to at the outset, so this is all rather out of your hands I am afraid.
Posted: Fri Jun 17, 2011 12:15 am
by Broke of London
There's also the possibility of a payment break in your iva if your IP agrees. Have a chat to your IP soonest and see what cN be done to help with these bills x
Posted: Fri Jun 17, 2011 1:36 am
by plasticdaft
By taking a mortgage holiday are you not eating into creditors share of equity??
Paul
Posted: Fri Jun 17, 2011 5:20 pm
by kallis3
I'd have thought so.
Mel - does the same apply to secured loans? Are those companies informed of the IVA and would you need a letter from them if you wanted a payment break?
Posted: Fri Jun 17, 2011 10:28 pm
by MelanieGiles
Secured loan companies will be notified of the IVA, and if you can get a payment break out of one of them you are doing a better job than me trying to get a date out of Brad Pitt!
Posted: Fri Jun 17, 2011 10:39 pm
by plasticdaft
MelanieGiles wrote:
Secured loan companies will be notified of the IVA, and if you can get a payment break out of one of them you are doing a better job than me trying to get a date out of Brad Pitt!
Mel,you are far too good for the likes of him!!! [;)]
Posted: Sun Jun 19, 2011 12:37 am
by Rach80
About a year into my IVA, my partner lost his job. The only way I could think of gaining a bit of extra cash was to have a mortgage payment break... however, when I looked into it, I couldn't do this as I was in the IVA. When I spoke to my IP, they were very understanding and temporarily reduced my payments until my partner got another job.
Posted: Sun Jun 19, 2011 2:23 am
by MelanieGiles
Only just picked up that post plasticdaft!!! It will have to be Philip Glenister then - my other subject of hero worship!
Posted: Sun Jun 19, 2011 12:39 pm
by plasticdaft
I just googled his website and as a man can safely say whats he got that I havent???
The list is endless!!!
Paul
Posted: Sun Jun 19, 2011 11:53 pm
by MelanieGiles
Send me a photo and I'll let you know!!!
Posted: Mon Jun 20, 2011 7:14 am
by Pandy
Plasticdaft
Money is the first thing that springs to mind [:D][:D]
Posted: Mon Jun 20, 2011 5:43 pm
by kallis3
[:D][:D]