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Posted: Tue Jul 21, 2015 6:14 am
by Adnan07535
HELLO GUYS MY EQUITY RELEASE DATE IS DEC 2015 MY SHARE IS 30000 ME AND MY WIFE R JOINTLY PARTNER BUT SHE ISNT IN THE IVA JUST WANTED TO ASK WHAT CHANCES DO I HAVE FOR REMORTGAGING I ONLY EARN 9000 A YEAR AS SELF EMPLOYED AND CAN THEY FORCE ME FOR A SECURED LOAN ? AND WHEN APPLYING FOR ANY LOAN DO I HAVE TO GIVE HER INCOME DETAILS TOO SHE EARNS 6000 A YEAR THANX
Posted: Tue Jul 21, 2015 8:31 am
by Foggy
You won't get a remortgage and an extension of 12 months will be the likely outcome. They cannot force a secured loan unless this is specified in your arrangement.
Posted: Tue Jul 21, 2015 9:21 am
by Michael Peoples
You would probably struggle to get a secured loan anyway as the income seems low. An extension does seem the most likely outcome.
Posted: Tue Jul 21, 2015 10:23 am
by Adnan07535
OK THANX NO IT DOESNT SAY IN MY PROPOSAL THAT I WILL B ASKED TO GET SECURED LOAN IT JUST SAYS THIRD PARTY LUMP SUM OR 12 MONTHLY INSTALMENTS THANX 4 UR ANSWERS
Posted: Tue Jul 21, 2015 10:54 am
by Lisa Thomas
Hi there it sounds like you have answered your own question you have to find a lump sum or extend for another year.
Posted: Tue Jul 21, 2015 11:47 am
by Adnan07535
HOPE THIRD PARTY LUMP SUM DOESNT MEAN A SECURED LOAN OR IS IT ???????
Posted: Tue Jul 21, 2015 11:51 am
by Foggy
No -- a third party lump sum is not a secured loan. It generally means a gift or loan from friends and family.
BTW -- could you, please take your caps lock off. It is considered shouting of forums to type in capitals ( and it is hard on old eyes
) Thanks.
Posted: Tue Jul 21, 2015 11:56 am
by Lisa Thomas
No it means someone will very kindly 'gift' you a lump sum to settle the equity figure.
Posted: Tue Jul 21, 2015 12:12 pm
by Adnan07535
Ok thanx lisa and sorry for that have a great day
Posted: Tue Jul 21, 2015 12:14 pm
by Adnan07535
Thanx foggy sorry for the caps lock
Posted: Tue Jul 21, 2015 3:15 pm
by Lisa Thomas
NO NEED TO APOLOGISE - GLAD WE'VE CLEARED IT UP FOR YOU.
Posted: Tue Jul 21, 2015 3:18 pm
by Lisa Thomas
sorry it was my turn to leave caps on! I'm not shouting at you Foggy!
Posted: Tue Jul 21, 2015 3:58 pm
by Foggy
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas
sorry it was my turn to leave caps on! I'm not shouting at you Foggy!
Lisa !!! [:0]