will an iva stop me from remortgaging

5 posts Page 1 of 1
Post Reply
 
 

shirlthegirl

User avatar
Posts: 1
Joined: Tue Nov 13, 2007 3:09 pm
Location:
Post by shirlthegirl » Tue Nov 13, 2007 3:11 pm
Quote
will an iva stop me from remortgaging in the future?
Top
 
 

JulianSampson

User avatar
Posts: 60
Joined: Thu Nov 08, 2007 2:08 pm
Location: United Kingdom
Post by JulianSampson » Tue Nov 13, 2007 3:17 pm
Quote
not necessarily but you would need consent from your Supervisor. Indeed the remortgage may be an integral part of your arrangement.

I am sure one of the brokers on this site can give you more advice

Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine
Kind regards

Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine
Top
 
 

sonyse2t5

User avatar
Posts: 298
Joined: Fri Jun 08, 2007 4:21 pm
Location: United Kingdom
Post by sonyse2t5 » Tue Nov 13, 2007 3:30 pm
Quote
If you have a share ownership property, there are sometimes conditions of what you can Remortgage for.
Top
 
 

iva experts

User avatar
Posts: 1271
Joined: Thu Apr 20, 2006 5:31 pm
Location:
Post by iva experts » Tue Nov 13, 2007 3:38 pm
Quote
Welcome to the Forum shirlthegirl,

An IVA will remain on your credit file for a period of 6 years from its commencement. If you were to re-mortgage whilst in the IVA you will need to keep your I.P in the loop as you may not get a better rate which will cause you to pay more, this could be a problem as there may not be any room in your monthly expenditure to accomodate this.

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

mikebdomain

User avatar
Posts: 1126
Joined: Thu Aug 23, 2007 10:03 am
Location: United Kingdom
Post by mikebdomain » Tue Nov 13, 2007 8:28 pm
Quote
Hi shirlthegirl and welcome to the forum

There is nothing to stop you remortgaging during your IVA with your IP / creditors permission and as long as your IVA has been run satisfactorily.

After your IVA you can remortgage, but your rate will still be slightly loaded. The rate you can achieve will improve the longer your IVA has been satisfied.

If you feel you may need to remortgage during your IVA, because of the end of a fixed rate, it would be prudent to point this out to your IP when arranging the IVA.


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
LEYBRIDGE LIMITED
Mortgage Broker & Mortgage packager
Directly Authorised Firm FSA No:313790
CeMAP 1,2 & 3 qualified
F.P.C 1,2 & 3 qualified
Financial Planning Certificate
Certificate in Regulated Customer Care
Top
Post Reply
5 posts Page 1 of 1
Return to “postings for november”