Mortgage holiday?

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rosepetal1

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Post by rosepetal1 » Sat Apr 10, 2021 11:30 am
Can I take mortgage payment holiday during IVA
But this would increase mortgage payment

Foggy

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Post by Foggy » Sat Apr 10, 2021 11:38 am
If you stop paying the regular mortgage payment for a period, this will be removed from your allowed expenses and added to your IVA payment as increased disposable income.

Might I ask why you wish to do this ... there may be other solutions ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

rosepetal1

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Joined: Mon Feb 15, 2021 7:07 pm

Post by rosepetal1 » Sat Apr 10, 2021 11:42 am
I have the 3 mortgage payment holidays during my IVA due to Boiler needs to replace but this holiday increase 30£ now

Foggy

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Post by Foggy » Sat Apr 10, 2021 12:41 pm
Depending on the amounts, you might be able to agree a payment break for the IVA payments instead and use these to pay for the boiler -- they will be added back on at the end.

There are also grants available from the government for boiler replacements, depending on circumstances: Either the new Green Homes Grant https://www.gov.uk/guidance/apply-for-t ... ant-scheme But this might need you to change fuels or heating to an air pump. Or the ECO grants scheme which helps replace older boilers for new, more efficient, ones: https://www.gov.uk/energy-company-obligation
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

rosepetal1

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Joined: Mon Feb 15, 2021 7:07 pm

Post by rosepetal1 » Sat Apr 10, 2021 3:19 pm
So what’s the solution?

kallis3

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Post by kallis3 » Sat Apr 10, 2021 4:15 pm
Follow Foggy's advice, I'm afraid we can't recommend anything else.
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
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