When I started my Iva I was forced to change to interest only mortgage to release more to the monthly payment. When I finished my Iva my current lender would not change it back to repayment because of the Iva. My question is that basically I have hardly paid anytiing off my mortgage in that 9 years therefore losing a lot really as still owe all that extra in my mortgage. Should this have been allowed. Looking back now this just doesn’t seem right!
As has already been stated it may be possible to re-mortgage to a different Lender and do a full repayment mortgage on an affordable term for you, if not make the most of the over payments if you are able.
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