Another year of payments?

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Post by malcolm793 » Thu Aug 09, 2018 5:58 pm
We paid our 60th payment in January we have not had anything from appature regarding iva they stopped taking monies from our account. I sent 10 emails asking about certificate called lots but never got through to speak to them. I finally got to speak to some one who said no idea what's going on and that they had not received our mortgage statement which we sent twice and that we have to pay another yearea as we have capital in our property . Is there anything we can do to sort this out


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Post by Foggy » Thu Aug 09, 2018 6:17 pm
Basically you needed to have investigated equity release at month 54. Although IP's generally take the lead in this, at the end of the day it is your responsibility to do the things you agreed to do.

So .. anyway ... equity was overlooked and will still need to be addressed. What Aperture are say is a load of tosh, if they are being honest .... if they have never had this mortgage statement and the house hasn't been valued then they have no idea if the equity clauses have been triggered. This has yet to be ascertained. However, if you are pretty certain that you have equity in excess of £5k, then the 12 month extension will apply and, to be honest, it will be far easier to go along with that, than start getting referred to brokers to see if a remortgage is possible.

Whatever is agreed -- get it in writing.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014


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Post by luluj » Fri Aug 10, 2018 5:40 pm
Totally agree with foggy ... if you have the equity in your property then just go with the 12 mths of payments it will be a smoother ride in my opinion.
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Post by Lisa Thomas » Mon Aug 13, 2018 8:46 am
Check your terms as regards the equity clauses.

Assuming the 'standard' clauses apply then get a valuaiton and establish if you have more than the minimum amount of equity for the clauses to kick in.

If so, you need to brace yourself for a years extension.

(See my video here for more info: )

As a separate issue given your lack of proper response form the IP firm you may want to make a complaint and follow up here: ... actitioner
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800
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