which way to go

[struggling]

interesting posts at the moment, did like the 2 grand for a new kitchen post. some advice from the experts please, just started iva, on an interest only mortgage with 40k equity and year 4 remortgage, really want to go to repayment but realize doing this now would increase dividend do you think a remortgage now (assuming i could find one)with a full and final offer is a better option if this is possible,

[MelanieGiles]

If you switched to a repayment not, surely this would affect your ability to fund your IVA contributions if they were based upon the interest only figure?

If you have just started an IVA, it is really not the time to be thinking about altering its terms - but do discuss case specific things with your own IP who has detailed knowledge of your case.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[struggling]

if i released the equity to pay a full and final settlement would my iva payment still continue?

[MelanieGiles]

If the settlement were to be full and final, you would not carry on with IVA payments, otherwise it would not be final!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[bagpuss]

just check as some IVA's mention that no offers on F/F can be done within the first 1-2 years...??...might be worth asking your IP...

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

[iva experts]

Hi Struggling,

I think the best way forward is to contact your I.P and discuss your concerns with them. They know the terms and conditions of your IVA so are the best people to advise you.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[mikebdomain]

Hi struggling

Of course, any mortgage broker who posts on this forum will go through the numbers with you and could offer advice concerning the amount of equity you could expect to release from your property. But, if you have just entered an IVA with an interest only mortgage, I doubt very much, if you would have enough equity in your property to enable you to offer a F&F.

To be honest, you need to first discuss your possible options with your IP.


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