on final payment 6th year

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by petercarpets » Wed May 30, 2018 3:47 pm
Hi there just wondering if someone could help me out

I phoned aperture the other day to find out when my final payment was due which is in 2 1/2 weeks they thanked me for paying all the payments and advised me to cancel my standing order on the 15th June so I would not be paying anymore money they said I should receive my completion cert in about three months I need to send in a p60 for my wife and end a year accounts for me plus they wanted another valuation for the house .I have all ready applied for mortgage and valuation for the equity release at year 5 I did this and so told one more years of payments in leu of the equity in the house and would only be expected to pay a further final year of payments and nothing else,now it seems I be lied too in the first place or they moving the goal posts I'm worried if the is a little more income will I pay 50% after the tax if the extra income is too much for me to pay in a lump sum is this a way of having a endless iva with a review every 12 months please could some one give me some detailed advice of what I need to do as it sounds the people at aperture are trying to catch you out
many thanks peter
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by recovering » Wed May 30, 2018 4:45 pm
No idea why they would need another valuation, I would query that straight away it has been dealt with at year 5
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by tinkertaylor » Wed May 30, 2018 9:16 pm

my husband is in IVA he is in his 5th yr his last payment is next month & Apreture want him to release his share of equity (understandably).....but they appointed a company called Select Partnership & the interest rate is crazy, they want to lend him £5k with a fee added brings it to just over £6k...but the repayments due to it being a "secure loan" is over 12yrs & want him to pay back just over £14k !!!!That is crazy interest rates & how is it allowed ?
I thought we would be able to choose a mortgage lender ourselves (who we are already with for example)
He has tried to get through to Apreture & there advice at the moment is poor & unclear - i'm very stressed with it all....we don't want to be in debt for another 12yrs!! how can they appoint a company who charge that amount of interest?
He hasn't signed anything yet as that makes a commitment, as we thought he was not allowed credit over £500 & they would not lend to him so that we could pay another year IVA (6th yr)
We have emailed all the paper work & asked Apreture to ask is this correct but as yet no replay
Does anyone have any advice ?
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by luluj » Thu May 31, 2018 3:52 am
Petercarpets - Well done for reaching the end of your iva - think the further valuation request is an oversight. Yes a final review of income for the year due and P60 needs to be submitted to allow for closure. Ask them to fully explain why the valuation request and challenge it.

tinkertaylor - Refuse the loan that is madness and agree to the extra 12 months - they appear to be trying it on big style !!
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by Foggy » Sun Jun 03, 2018 9:32 am
Regarding the extra valuation request after equity has already been addressed, this is an oversight (or they are trying it on) . They cannot have two bites of the same cherry !
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