hi we have have been ask to try to remortgage for a total of 22000 with a house value about 155000 outstanding mortgage of 108000 and with 60 payment of 281per month with a debt of just under 30000 with about 10000 in ppi refunds.
The total outstanding during an IVA is comprised of the full original debt, plus fees and also possible statutory interest, so they wouyld still be looking to remortgage to get nearer this amount. However, there is little chance of being able to remortgage and, assuming you have the usual clauses, a 12 month extension at the current rate will be the outcome -- however you do need to jump through the hoops and get refusals.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
