We owe 110,000 on the mortgage and have a 25,000 secured loan. The house is worth 200,000. We pay 850 a month for the iva so including year 6 would need to borrow around 20,000 to pay off the iva. We have 12 years left on the mortgage.
I would demonstrate the equity and submit it but I would personally prefer a 12 month extension ... it will be done and behind you alot quicker than a new loan.
Who is onlineUsers browsing this forum: No registered users and 20 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location