I have contacted my IP several times as I have I have been called by their 3rd party equity release guys a few times. I have asked to be considered for the 12 month extension given the temporary changes in place around equity release. They keep skipping over my questions and today I got a letter asking to prove a mortgage settlement figure. I think my initial 5 years is up in April but probably have a few months after that as I didn't have a payment break when I was on maternity leave. How final is the government advice! Can an IP ignore it and still make me release equity? Can they do that right up until my 5 years is up before making the decision to force equity release or extend? Any help will be much appreciated.
Equity is supposed to be addressed around month 54 --- they have started the process now and this is a one bite of the cherry scenario.
I would write direct to the IP, by recorded delivery, keeping copies, telling him that you are invoking Section 3, clause 1.12 of the Coronavirus (COVID-19) Guidance for the Straightforward Consumer IVA Protocol. This is, of course, assuming that you have a Protocol compliant IVA. In the same letter politely ask for contact details of his regulatory body.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk