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Posted: Tue Mar 05, 2013 6:03 pm
by chegs
hi,
can anyone please advise on how to get a remorgage for the equity clause. I have contcated NRam who have not got a lenders liscence no more. If anyone has links on line that would be really helpful
Posted: Tue Mar 05, 2013 6:08 pm
by Foggy
Hi Chegs. You will find it nigh on impossible to get a remortgage whilst in the IVA. Hopefully your own proposal has clauses for this event (generally a 12 month extension) Older proposals can be more onerous, but variations can be proposed to change this.
One firm has started offering secured loans ( 2nd charges ) to cover this eventuality --- a (to my mind, dubious) practice that has some good points, but has been heavily resisted by clients posting here.
Check what your proposal states -- what you might be after are a couple of refusals, rather than an offer !
Posted: Tue Mar 05, 2013 6:25 pm
by chegs
im after a couple of refuses foggy, can i do it online as ive got the property valued and the redemption statement now. i just need a couple of links, to remorgage , to make matters worse
as im now divorced and its an interlocking IVA
Posted: Wed Mar 06, 2013 1:05 am
by MelanieGiles
I have a mortgage broker who will provide you with a written report for the cost of £100, which can be paid as an expense of your IVA - so no additional cost to you. Let me know if you are interested in contacting him.