www.iva.co.uk

About to try and get rejected for the final payment option through remortgaging and seeking a loan.

If I have a valuation of £130,000 with a settlement figure of £74,250 presumably I need to apply for a mortgage of £110,500 ( 85% of the sale value) and if successful give the IVA the difference between the settlement of £74,250 and £110,500= £36,250.

Is that correct

Hi,

You will be rejected for a remortgage so I wouldn't worry about it. If your paperwork doesn't state a secured loan then you may very well have to continue on for a further twelve months.

As Kallis says, this is a moot point as the remortgage will not happen anyway.