www.iva.co.uk

Hi

Just got our letter from the IVA company about getting our house revalued and attempt to get a remortgage from two brokers.

The letter it self is hard to figure out what we are expected to do and more importantly what should we try and do for the best outcome for us..

The original valuation on the house was £125,000 and the mortgage stands at approx £80,000

You can try and release equity but it is highly unlikely that this will be possible. Ask your IP what they want you to do.

I expect a 12 month extension will apply on the assumption you have standard IVA terms and you won't be able to remortgage.