www.iva.co.uk

My mortgage payments went up substantially, almost 100% - so far I have been able to keep my head up above the water (only just) - I can't remortgage, no equity in the property and under today's mortgage environment no one will lend me the amount required.

I am getting to the point of despair - where I don't know which way to turn, the mortgage company won't speak to me as my account is in good order.....I have to miss 3 months worth of payments before they will talk to me which seems absurd to me. Any one have any suggestions other than going directly to my IP .... do I miss the payments so that I can talk to the mortgage company - not sure how that will impact my future ability to get a mortgage with a normal lender etc....anyone else having problems ?

Thanks,

Hi cul8tr I think would speak to IP as your mortgage will be there longer than your IVA.. and at the end of the day if you want to keep your home should be a priority!! Well thats what I would do..

An expert should be able to advise though

have a chat with your ip you will need to submit a new i+e form ,from this they will be able to see if a variation is required this really should have been sorted at the time of starting your iva and the ip should have picked up on it.Its a struggle enough with rises in fuel,food but to double your mortgage payments it must be a nightmare.


good luck

sorry, no advertising allowed.

If you miss mortgage payments for 3 months and your lender then speaks to you I feel you can rest assured that they will help you only by increasing your payments to cover the arrears that have been built up, so that looks to be counter productive.

As angela18 and indebtforever have suggested, you are best off discussing this directly with your IP, it isn't really in anyones best interests to have your IVA fail.

Regards.

khenderson, the only IP that cul8tr should be speaking to is his/her own. I don't think you can advertise your financial advisor services on here without Admin agreeing to it.

Thanks for the advice - will duly speak to my IP and seek some guidance.

Whilst your IP will want to help as much as possible, they cannot give you financial advice about your mortgage. If you are finding the payments unaffordable, you may need to consider selling the property if you could rent at a cheaper level. It is definately worth speaking to an Independent Financial Advisor to see if they can offer you any suggestions.