equity release

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tristan

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Post by tristan » Mon Aug 02, 2010 2:36 pm
ive just finished the 4th year so its time for equity release the valuation of the house is 115,000,my motrgage is 83,000 andthe clause is 75% will normal banks remotgage me ?
 
 

kallis3

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Post by kallis3 » Mon Aug 02, 2010 3:07 pm
You can try, but it is unlikely that you will be able to.

You may find that you will be asked to make a further 12 months contributions.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

plasticdaft

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Post by plasticdaft » Mon Aug 02, 2010 4:00 pm
Normal banks wont touch you with a bargepole. You could try your current lender but dont expect favourable rates.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

tristan

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Post by tristan » Thu Aug 05, 2010 5:00 pm
my iva wont fail will it if i cant remorgage?
as so far its not looking good
 
 

kallis3

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Post by kallis3 » Thu Aug 05, 2010 5:07 pm
You will probably have to make further contributions.

Speak to your IP about this. It is not anyone's interests for the IVA to fail now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

tristan

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Post by tristan » Thu Aug 05, 2010 5:48 pm
just spoke to my IP PETER JACKSON and he says its just the current climate and dont worry,it just means that it may be extended by 12 months
 
 

kallis3

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Post by kallis3 » Thu Aug 05, 2010 5:52 pm
Good news!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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