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by Shaun Vickery
Tue Mar 19, 2019 8:57 am
Forum: Ask IVA Forum and Industry experts
Topic: What is normally classed as the IVA discharge date?
Replies: 5
Views: 1638

Many mortgage brokers have little or no experience in this area of the market and, although it may just be that he is using the wrong terminology, I'd be inclined to ask how much experience they have in dealing with people who have been party to an IVA.
by Shaun Vickery
Wed Feb 27, 2019 11:27 am
Forum: Ask IVA Forum and Industry experts
Topic: Moving on....
Replies: 5
Views: 6864

Thank you for your fantastic feedback, always puts a smile on my face even after more than 30 years in the business! Perhaps your username now needs to be 'debtfreenow'?!
by Shaun Vickery
Wed Feb 27, 2019 11:24 am
Forum: Ask IVA Forum and Industry experts
Topic: Equity release after 3 years?
Replies: 2
Views: 6775

Hi Sandra. If you are only 3 years in to your IVA it may be that Aperture have requested the review too early my mistake - should be fairly easy to check with them or, otherwise, if you want to contact me separately I can check it with them for you. In terms of whether a re-mortgage is possible, the...
by Shaun Vickery
Mon Jan 28, 2019 9:06 pm
Forum: Ask IVA Forum and Industry experts
Topic: Select Partnership?
Replies: 10
Views: 7583

Hi Catherine. I'm the Managing Director of The Select Partnership. If you'd like to contact me by email shaun.vickery@theselectpartnership.co.uk I'll be happy to take a look at this for you.
by Shaun Vickery
Thu Jan 24, 2019 5:01 pm
Forum: Ask IVA Forum and Industry experts
Topic: Magellan Homeloans
Replies: 2
Views: 4728

Without knowing who the broker you are using at present I can't comment on whether this is an area of specialism for them or whether they have access to other lenders. It's true that you will be in a fairly narrow space for the time-being but whether other options are available to you will depend on...
by Shaun Vickery
Thu Jan 24, 2019 4:57 pm
Forum: Ask IVA Forum and Industry experts
Topic: If I sell my business can I give my father his money back?
Replies: 3
Views: 4673

I agree with Foggy. I appreciate that the family relationship makes things a little awkward but ultimately he is a creditor the same as the rest. 'Favouring' him by settling his debt in any manner of unequal proportion to the others is likely to put you in a very precarious and exposed position.
by Shaun Vickery
Thu Jan 24, 2019 4:53 pm
Forum: Ask IVA Forum and Industry experts
Topic: Can you work for an accountant if you have an IVA?
Replies: 2
Views: 4691

I suspect, as in our industry, this boils down to your employer satisfying themselves that you are fit and proper. Normal that is down to their interpretation and long as they can justify it to their regulator I would be very surprised if there was anything specific exclusion.
by Shaun Vickery
Thu Dec 13, 2018 12:50 pm
Forum: Ask IVA Forum and Industry experts
Topic: Everyday Loans and my IVA proposal
Replies: 3
Views: 8025

Did you get any indication as to why the IVA was rejected initially. Do you know whether your creditors gave any feedback, for example that you had too much equity in your house?
by Shaun Vickery
Thu Dec 06, 2018 1:28 pm
Forum: Ask IVA Forum and Industry experts
Topic: Will I have to take out a loan on my house?
Replies: 5
Views: 8530

There's no reason for you to lose your house at this stage, certainly if you have complied with your obligations under your IVA. Your creditors will have agreed to you entering the IVA on the understanding that you will try to release some of the equity from your house at the end and this does seem ...
by Shaun Vickery
Thu Dec 06, 2018 1:19 pm
Forum: Ask IVA Forum and Industry experts
Topic: Working in the finance sector
Replies: 2
Views: 8570

Anyone who you work for in Financial Services will need to do due diligence on a regular basis but it's up to them specifically how they choose to manage your ability to perform your role. Ultimately they'll be responsible for evidencing appropriate controls to the FCA and they'll need to decide whe...
by Shaun Vickery
Thu Dec 06, 2018 1:12 pm
Forum: Ask IVA Forum and Industry experts
Topic: Any chance of a joint mortgage?
Replies: 3
Views: 8416

Depending on your circumstances your partner may be able to take out the new mortgage just in his name and you can think about adding yourself at a later date.
by Shaun Vickery
Thu Dec 06, 2018 1:10 pm
Forum: Ask IVA Forum and Industry experts
Topic: My IVA is coming to a end
Replies: 5
Views: 8477

It could be that there's a simple misunderstanding with your IP. If your IVA has already been extended in lieu of equity, because you were unable to re-mortgage, or was set at 72 months at the outset in lieu of equity then there shouldn't be a need for you to extend any further.....unless the extens...
by Shaun Vickery
Mon Nov 26, 2018 3:08 pm
Forum: Ask IVA Forum and Industry experts
Topic: Help...calculations for potential remortgage.
Replies: 14
Views: 7822

Precisely! It depends on the individual circumstances of course but very often that's the case.
by Shaun Vickery
Mon Nov 26, 2018 1:45 pm
Forum: Ask IVA Forum and Industry experts
Topic: Help...calculations for potential remortgage.
Replies: 14
Views: 7822

A higher interest rate may (ironically and uniquely in this situation) actually suit you due to the way that the IVA protocol works. It is designed to ensure that payments will be affordable to you by limiting the increase in your monthly mortgage commitments to being no higher than 50% of your IVA ...
by Shaun Vickery
Thu Nov 08, 2018 1:41 pm
Forum: Ask IVA Forum and Industry experts
Topic: When can I remortgage post IVA
Replies: 4
Views: 6309

Unless you are desperate to do something now, it certainly opens up more competitive options if you wait until your IVA is over 6 years since it started. If you are happy to wait then now is still a good time to start any preparatory work ahead of an application, checking your credit file is correct...
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