www.iva.co.uk

Hello everyone,
My question is I have five months to go to finish my iva,I received a letter that I should go and remogtrage which I have done and sent to back,and I received a letter in return that because I could not receive a mortgage I will pay another 12months which is what am doing now.
Please help me out because am confused with this letter have received asking for remortgage,valuation and mortgage statement.Is this wright.

I would imagine that your IP needs to see evidence of the property valuation and the current mortgage outstanding, so they can calculate whether there is any equity in the property and can thus assess whether you will need to extend the term of the IVA - but best to check with them directly to be sure.

Which firm are you with?

Thanks Mel, am with Grant Thornton, what am saying is am already doing the twelve months in lieu that means i will be doing it twice, is that wright.

My money would be on this being a computer generated letter and "the computer" not realising that you are already on the extension.

Give them a call to get this clarified. You won't want to get nasty surprises when you are in the final year and expecting to complete.

Thank's Foggy and Mel, I phoned Grant Thornton, they told me it was a mistake.