www.iva.co.uk

We recently started on IVA and we are nearing the end of our mortgage deal(fixed term)the bank send us mail regarding this. Do you think we can try getting a new deal? Or will be unlikely to get approved due to IVA?The bank letter states that no new credit or affordability checks if we stay with them.

Or do nothing and m let it be move automatically to Standard Variable Rate(SVR)?
Thank

Many posters have had new fixed rate deals agreed with current lenders at better than variable rate. As you are staying with your current lender (you will not be able to move to another anyway) they are not taking on any further risk than they have now.

Thanks Foggy! So you think it is fine for us to go through with the renewal of the mortgage deal? We are a bit worried that the interest will shook up high due to us being on IVA.

Hopefully a few posters who have actually done it will come along and share their experiences.

I got a new fixed rate mortgage with Halifax when mine expired and my payments actually went down £100 pm. Though they would not take the extra £100 and reduce the term.

Thanks Michelle. will have a go then. Fixed rate is better I think.

Fingers crossed!!

All you can do is ask ... if they won't do it then be sure to have a full review of your I&E and ensure your monthly payments to your iva still remain manageable .....