Posted: Thu May 22, 2008 8:19 pm
Hi All,
I have the 4th year equity release clause but as im mortgaged up to 95% its unlikely I would be able to 'remortgage' to release any equity. My IVA chairmans report states that my IVA will last no longer than 72 months. As far as I am aware I am paying 60 payments with equity release and its all over. Why would they put the 72 months note in? Will I be expected to pay an additional years contributions if, as I say there is no lender on the planet who will remortgage me to release what little equity I have?
Cheers,
DM (enjoying a free cider!) Got bless my friend at the brewery!
I have the 4th year equity release clause but as im mortgaged up to 95% its unlikely I would be able to 'remortgage' to release any equity. My IVA chairmans report states that my IVA will last no longer than 72 months. As far as I am aware I am paying 60 payments with equity release and its all over. Why would they put the 72 months note in? Will I be expected to pay an additional years contributions if, as I say there is no lender on the planet who will remortgage me to release what little equity I have?
Cheers,
DM (enjoying a free cider!) Got bless my friend at the brewery!