If I go ahead with the IVA, I will be three years into my IVA when my fixed rate on my mortgage would have finished. My partner who is also named on the mortgage does not have any debt / IVA. Has anyone gone through this and could you tell me if you got screwed over on the rate of the mortgage?
jess314 you really need to speak to a mortgage adviser before you commit to the IVA, as it will have a real impact on you, your partner and the mortgage. There are things that can be done, but you must get the right advice now.
IVA Mortgage Expert
Zebra Money Centre
This whole scenario is a little hit and miss I'm afraid....some people are able to re-negotiate a new fixed rate with no fuss but others seem to have had a difference experience with their lender not allowing them onto a new product due to the IVA. The only compensating factor is that a higher or lower mortgage commitment will affect your expenditure and therefore arguably your IVA contribution should be adjusted accordingly.
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You need to get in touch with him. Normal phone numbers can't be posted on here.
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Thank you for the fast responses everyone. In particular I want to thank Ryan. You rang me straight away when I asked. You gave brilliant advice and helped me put my mind at rest. I would definitely recommend you in the future and will definitely be coming back to you if I occur any mortgage issues or need any help in the future.