How many remortgage attempts?

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norman

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Post by norman » Tue May 14, 2019 5:20 pm
Hi we are at the end of our Iva apart from trying to release equity ,Aperture asked for a valuation and a redemption figure a few months ago which we did they have just come back and told us we have more than £5,000 equity so we have to try remortgage which we agreed with so we have recently been trying to remortgage without success so we sent proof of this today with screen shots which they said they accepted and said because you can't get a remortgage you will have to pay for another 12 months my hubby spoke to them on the fone today and thats what they said ,but in the next breathe he said but we need another 2 valuations and another redemption figure because it was a few months ago ,my question is why would they ask us to do this again after accepting we have done this part and tried to remortgage but they accept that we can't get one and accepted we should pay for 12 months extra ,it seems ridiculous to accept we cant remortgage then ask us to send these things again is this usual practice for Aperture

Foggy

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Post by Foggy » Tue May 14, 2019 5:38 pm
Aperture do have a tendency to bend rules. The equity release exercise should take place at month 54 and the figures based on the values at that time, so new figures now would not / should not replace those fgained at the correct time ---- any figures now would simply be further out of date.
Tell them that you have complied with the agreed terms and they have responded with the 12 month extension --- end of discussion. This has been addressed and cannot be revisited.
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

norman

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Post by norman » Wed May 15, 2019 10:25 am
My husband has just spoken with Aperture again to tell them again that they have already accepted we do the extra 12 months and now they are saying Select Partnership are dealing with it which we have not agreed to because we do not want to end up with a loan so we didn't get back in touch with Select after what they said when they rang us , the IVA started in 2012 and the contract is a remortgage or 12 extra months can they force us to go with Select .

Foggy

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Post by Foggy » Wed May 15, 2019 11:24 am
Select are very fair and much easier to speak with than Aperture. The chances are that they will come up with no remortgage either, but might find a secured loan, which they will tell you about so that you are fully informed, but, with pre 2014 terms, you are not obliged to go down that route. I would also make sure that they are aware that this had already been addressed and settled by Aperture.

I would see what Select come up with and, if things do not go the way already agreed ( i.e they cannot get a remortgage offer either and suggest extension) lodge a formal complaint with Aperture, against your IP --- this can then be escalated to their regulatory body via the Government Gateway here: https://www.gov.uk/complain-about-insol ... actitioner
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

norman

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Post by norman » Wed May 15, 2019 11:57 am
Thanks again for your help Foggy

norman

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Post by norman » Wed May 15, 2019 1:52 pm
Sorry to bother you again Foggy but Aperture are insisting we try to remortgage with Select ,the mortgage we have at present is with my husband and my son on it ,he does not have an IVA my husband does ,but I know my son will not want to get involved with remortgaging to another company will or can Select force us to remortgage when my son does not agree with this thanks

Foggy

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Post by Foggy » Wed May 15, 2019 2:58 pm
if a remortgage is available and he refuses to co-operate they can simply fail the IVA for non-compliance. Hopefully it will not come to that and Select will recommend the extension. I would still consider formal complaint with Aperture then their regulators.
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

catherine826

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Post by catherine826 » Sun May 26, 2019 10:26 am
Its unlikely you will get a remortgage near to the terms you already have with Select, they will find you a secured Loan as they did with me. Although it seems daunting as the interest is much higher, you can get one that you can pay off quicker. It releases you from Aperture and in future, they will find you a mortgage on more favourable terms. I cannot rate Select highly enough.
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