In October we will have completed 3 yrs of our joint IVA agreement. I am facing redundancy and this will definately happen before the end of this year, I am struggling to get another role that will allow us to continue with our agreement. My father has offered to help but we have no idea how to calculate a f & f offer, we have an equity release clause at yr 4 but this will not materialise as we will not be able to get an increased mortgage. Do we work out the total of 2yrs or 3yrs of payments as a proposal and how much should we reduce for fees if this is accepted early?
A good basis would be to value the current equity in your property, and equate this to what you would be required to pay under the terms of the IVA - together with a sum equivalent to the remaining IVA contributions.
Lower offers can also be considered, but I woudl advise you to make the best offer possible to ensure success.
Sorry to hear about your job - and I hope that if redundancy does ensue that it won't be too long before you get back into work again. Best of luck with it all.