I am currently in the 50th month of an IVA and i have to re-mortgage in the fifth year and release equity can you tell me that if i do this will my IVA payments reduce by the amount i have to pay extra for the mortgage
The short answer is yes and normally if this means that you have only a small amount left after paying the increased mortgage, your IVA contributions will cease at this point. It would not be worthwhile to collect small amounts for the remainder of the term.
You may struggle to find a remortgage and may have your IVA extended by twelve months. While this may not sound very palatable it could be better for you than having to take on a larger mortgage for the remainder of the term.