will they want more?

alanta: Posts: 9; Joined: Sat Aug 25, 2007 8:15 pm; Location: United Kingdom

by alanta » Tue Aug 28, 2007 9:17 am

On our documentation we have a definite 12.000 needed at the end of year 3 ,so remortgaging our home will be needed.
The question I have as the house value has increased will they want more.?
We are 79 and 68 years old
Thankyou.
Alanta

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by MelanieGiles » Tue Aug 28, 2007 9:20 am

Hi Alanta

If the proposal limited the equity figure to £12,000, then you will not have to pay over any more.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Regards, Melanie Giles, Insolvency Practitioner

iva_squirrel

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Location: United Kingdom

by iva_squirrel » Tue Aug 28, 2007 9:49 am

Hi alanta,

If your proposal says that the definite figure is 12000 then you wont have to pay any more.

Regards,
Michelle P.

http://www.supersonicsquirrel.net/

Oliver: Posts: 1854; Joined: Sun Sep 11, 2005 12:15 pm; Location:

by Oliver » Tue Aug 28, 2007 9:53 am

It will all depend on if the terms and conditions stipulate a specific £12,000 release or if they outline that there will be a revalue before the release.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Best Regards
Oliver

iva experts

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by iva experts » Tue Aug 28, 2007 10:21 am

Hi Atlanta,

Im suprised that your proposal states an exact amount of equity release, but if this is stated at £12,000 then you should not have to pay anymore than this.

Best Regards. IVA Experts

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

Lisa2009

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by Lisa2009 » Tue Aug 28, 2007 10:33 am

I thought my £15000 was definate till i kept reading and its only estimated.

http://mrsskint.blogs.iva.co.uk/ 'Our Story'

Nil carborundum illegitimi

MelanieGiles Industry Expert

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by MelanieGiles » Tue Aug 28, 2007 10:36 am

If you can post the exact wording of this provision in your IVA on the forum, we can help further.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Regards, Melanie Giles, Insolvency Practitioner

Adam Davies: Posts: 14596; Joined: Thu Mar 29, 2007 12:21 pm; Location:

by Adam Davies » Tue Aug 28, 2007 1:05 pm

Hi alanta
Are you in a Scottish trust deed ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Andam Davies

alanta: Posts: 9; Joined: Sat Aug 25, 2007 8:15 pm; Location: United Kingdom

by alanta » Wed Aug 29, 2007 6:17 pm

For Andydavie.
No Im not in a Scottish Trust.I presume because of our ages we were told it was for only Three years and to release 12,000 at the end of year three.Our Insolvency Practioners are in Sheffield.
Thanks.
Alanta.

Adam Davies: Posts: 14596; Joined: Thu Mar 29, 2007 12:21 pm; Location:

by Adam Davies » Thu Aug 30, 2007 11:27 am

Hi
Are you sure that you will be able to remortage in the third year ? It sounds like the 12k is a definitive figure and that you will not have to raise anymore.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Andam Davies

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