Who to approach for remortgage?

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Sensible77

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Post by Sensible77 » Tue Sep 14, 2010 10:04 pm
Further to my earlier post http://iva.co.uk/forum/topic.asp?TOPIC_ID=32001
I have submitted the house valuation as well as mortgage and secured loan redemption figures to PayPlan. They have said that I now need to get a remortgage offer or three rejections based on 85% of my half of the equity in the house. This is approximately £16000.
As it appears unlikely that I would get a remortgage and therefore this is probably just a routine procedure to satisfy my creditors and adhere to the conditions of the arrangement, can anyone suggest who I should contact? I understand that I can approach my current mortgage provider and I assume shouldn’t approach any of my previous creditors.
I would appreciate it if anyone could suggest the best companies to contact who possibly may give me a remortgage under these circumstances and the companies that I should avoid to save wasting theirs and my time, i.e. companies who definitely wouldn’t give me a remortgage.
 
 

MelanieGiles

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Post by MelanieGiles » Tue Sep 14, 2010 10:15 pm
Shouldn't your IP be giving you this advice?

I would pick two brokers out of your local Yellow Pages and ask them if they would be prepared to give you a letter confirming that you could or could not raise additional funding over your property. There may be a charge for this which should be funded out of the IVA funds - and you should also approach your existing lender as you probably have more chance of getting funds from there, but I would have to say that in today's ecomimic climate this may be unlikely.
Regards, Melanie Giles, Insolvency Practitioner
 
 

MelanieGiles

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Post by MelanieGiles » Tue Sep 14, 2010 10:15 pm
Shouldn't your IP be giving you this advice?

I would pick two brokers out of your local Yellow Pages and ask them if they would be prepared to give you a letter confirming that you could or could not raise additional funding over your property. There may be a charge for this which should be funded out of the IVA funds - and you should also approach your existing lender as you probably have more chance of getting funds from there, but I would have to say that in today's ecomimic climate this may be unlikely.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Sensible77

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Post by Sensible77 » Tue Sep 14, 2010 10:28 pm
Thanks, Melanie.
I also thought that they should be helping me with this, but they have just said that it’s up to me. As you know from my previous posts, I’m quite disappointed in their assistance with this.
I will take your advice.
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