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Posted: Sat Jul 30, 2011 5:51 pm
by debtdumb
Our mortgage provider (Northern Rock) have sent us a letter saying they will waiver the early repayment fee on our fixed rate 7.9%mortgage.Could we remortgage with another lender or would it be at a higher rate if we did as we are 2 years into our IVA.
Posted: Sat Jul 30, 2011 5:53 pm
by ginger3232
It is highly unlikely that anyone will give you a mortgage whilst in an IVA.
Oh welcome to the forum
Posted: Sat Jul 30, 2011 6:06 pm
by kallis3
Agree with Ginger - you are unlikely to find anyone who will give you a remortgage whilst in an IVA.
Posted: Sat Jul 30, 2011 10:04 pm
by mattyboy
No other lender will likely take you, your rate is however very high. Can you not negotiate with NR to go on another fixed rate or tracker at a better rate? The other unfortunate thing is those blasted admin fees which you have to pay to go on a fixed rate.
Posted: Sun Jul 31, 2011 8:02 am
by plasticdaft
Nobody will want your business while an iva is still on your credit report. The best you may get is your current provider giving you a new deal where no extra borrowing in needed.
Paul