IP has not contacted me regarding remortgage. What should i do?

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michael187
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by michael187 » Tue Jan 30, 2018 12:57 pm
I have only 2 1/2 months to end of my iva and have not been contacted ref remortgage my mortgage is interest only with Northern rock who will not remortgage how do I stand
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Foggy
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by Foggy » Tue Jan 30, 2018 1:01 pm
You need to contact your IP and ask them ( sometimes they sneakily do stuff on their own ). Assuming you have the usual equity release clauses -- do you think you have over £5k equity to trigger the clause ?

Did you get the usual NR 6 year term at the start, so might be going into year 7 ?
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Lisa Thomas
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by Lisa Thomas » Tue Jan 30, 2018 2:21 pm
I expect the T&C are that the onus is on you to sort it.

Have you obtained a valuation and redemption statement? Have you established whether to have less than £5k equity and whether the 12 month extension clause might kick in (depending on your terms)?
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Shaun Vickery
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by Shaun Vickery » Tue Jan 30, 2018 4:21 pm
I'd suggest contacting your IP to ask them what they require from you.
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