May I ask who you are going with as your provider ?
liz115 wrote:The equity release thing is what’s done towards the end of the IVA? I’m on my mortgage on my own so don’t think I could remortgage due to the poor credit score so may need to pay an additional 12 months?
I think that Hanover are using the post 2014 Protocol version of standardised documentation, which includes the obligation to get a secured loan it a remortgage fails, So I would clarify that. Five years ago remortgaging or even secured loand were nigh on impossible and the 12 mnth extension was pretty much the way you knew it would go. But, now, these things are becoming more available and it is no longer a certainty for the extension ---- who know which way it will go in the next five years ?
We chose to sell our house, go into rented for the duration of the iva, and it turned into the best decision ever ... not for everyone but it gave us security being in rented for the duration and had no household maintenance costs.
I wish you the best of luck in the next few months and remember we are here on the forum to answer your questions at any time of day (and normally night) !!
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