www.iva.co.uk

Two questions really,

two years in an IVA and i am all ready worrying about year 5 re-mortgage, i will have equity on the house but its my wife's really due to her side of the family inheritance, I don't want her to lose any money. I want to pay the extra 12 months payments. so my question is What are the odds on getting a re-mortgage?

2nd question, our Mortgage is with Nram we have never missed a payment so are not behind with them at all. however they are down as one of my creditors but they were not in the chairman's report. it is only me that has the IVA and apart from the Mortgage that is the only financial connection my wife and i have.

what if any implications could this have?
thanks

Hi

Do you have anything drawn up by a solicitor regarding the equity split on the home ?

Do you have a Northern Rock Together mortgage with an unsecured element to the mortgage ?

Regards

As things currently stand a remortgage will not happen --- they did in the past, and might do again in the future ( whether this will be in the next few years is anyone's guess).

Regardless of who funded what, unless you catered for an uneven division of proceeds the view will be taken that the equity is split 50/50, in the unlikely event that it comes to that.

Thank you Foggy,

Andy, no nothing drawn up, should have been clearer in original post, its only the unsecured part of the mortgage about 10K worth not the whole amount.