Select have said taken my valuation into consideration and has been passed back to aperture. So i guess just a waiting game now to see what the outcome is
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi guys and girls... Selecy ried to ring me thursday but been at work so will try monday.
Still looking through documents and equity releasd and still and am still dumbfounded re equity release its drivibg me mad.
The only other thing found in proposal is this extract.
The amount of money introduced into arrangement will be mortvage proceeds less costs of remortgage including any cost to redeem existing mortgage so by this the only way it could be is.
No secured loan. And remortgage value at say 103000 85% would be 87550 minus mortgage 83000 leaves 4550.
Good news and bad news. My valuation stands however thry using the aperture way of calculating euqity release. Which is not the way debt free direct said they calaculate equity relaese over the phone when we tookout the iva. Is there any way to challenge this. Any one that can can look at the equity release clause to clarify i.e solictor or a iva specialist.
I akso found this on aperture website which available equity is remortgage minus mortgage (and remorthage is set at max 85%ltv)[
my home safe in an IVA?
Providing that you keep up with the payments on the secured loans your property should be protected. Your creditors may require you to raise some funds from your property by way of re-mortgage in your final year of the IVA, if there is available equity (the amount left after your mortgage and other secured creditors have been considered).
If you have less than £5,000 of equity in your home then it is unlikely the equity in your house will be included in your IVA.
Need to get a value for purchasing the leasehold for the property for select partnership.
Was expecting 8k nope just over 14k including fees.
So now i have a estimated value o. House of 103k and 14k to buy the leasehold
