No two ways about it -- equity has to be addressed. It may be that they will want you to release some -- you need to prove, as asked, that you cannot. The alternative is that they will ask their own mortgage experts to look for a remortgage for you (and they might be successful, given the amount of equity there).
You could offer a F&F including the extra 12 months and they might leave it at that --- but they may still want the equity position looked at. If you can scrape together 12 months payments for the F&F, make the offer without mentioning the possible equity or the missing paperwork ... let them think about that, they will ask if they are concerned about it.
Moving house at the moment will be problematic ---- you will not get a fresh mortgage for a while and renting will also be a problem with your shot credit score. I would say to stay put for a short while and tackle one problem at a time.
Aperture are well known for lack of communication and, I am afraid, this has been made worse by them recently acquiring a large number of cases from smaller firms, causing an overload and a log jam at their end. Not an excuse .... just what it is.
On the mortgage front, althought your wife's credit score will not be as battered as yours, because of your financial association any lender might also search your history. Lenders are very wary of single applications where there is more than one adult living in the property. We have a couple of mortgage experts with experience of adverse credit .. might be worth having a chat. Their details can be found here and they can be contacted using the links in their profiles:
Regarding £2500 offer which is roughly my last 12 payments, would you suggest offering over and above that (say another £2.000 plus the £500 variation fees?) or would they want a much bigger lump of the equity as it's there? Hope that makes sense?
Regarding a single application mortgage - I may well just ask the question as she'd only be looking at a relativity/in comparison lower mortgage of around £100k compared to our current commitments. I'm not really sure if it's worth the hassle for the sake of a year and then the lull waiting for the credit to get built back up for me??
I understand the sortie Aperture predicament. I've never pestered anyone whilst in the IVA - I've just trusted everyone and been grateful for the help at such a stressful time, one in which I had little choice in and even less avenues out.
Thanks again Foggy - Lee
Of course, offering, say, £5,000 is more likely to tempt them to shut up and say "yes" !
I am thinking of trying to offer them a FFS I have 10 payments left as I missed two payments over the last 5 years - £344 a month so was thinking of trying to offer £3500.
I just need it to end now.
Thanks Vannyj for your letter. Yeah, I know I'm not the only one who's having correspondence issues with Aperture. I just find it frustrating that with the seriousness of the situation I'm in that the passing of information would be slightly more watertight and punctual, not least to mention informative. In 2 years I've spoken to them twice and I've asked for various bits of info and advice but it's never arrived and they try and cut the conversation dead, as if they're not really listening to what is quite a stressful part of your life. I don't give them war and peace (like I am here). I appreciate they're snowed under and I am patient (mainly due to embarrassment of my situation) so I trust them to help me but I can't help feel that I'm going to get a crushing letter or phone call at some point just to derail something that I think is going quite well.
I'm seriously thinking of the F&F settlement option even if it costs me a few quid, even if it's a genuine option as when I've asked them, I've got no real response - like I was asking them how much a new set of tyres were? Hence my post on here.
Thanks to everyone so far and any further help and advice will be gratefully received.
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