Select Partnership?

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catherine826
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by catherine826 » Tue Nov 20, 2018 6:22 pm
I've been in an VIA Grant Thornton/aperture since October 2013. I have sent all paperwork required including refusal letter from my mortgage company to remortgage to release equity. My final payment is this month and I have only just heard, after chasing Aperture myself that they have referred my case to Select Partnership to attempt to release equity. What does that mean ? I thought in would just pay an extra year ?
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Foggy
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by Foggy » Tue Nov 20, 2018 7:11 pm
catherine826 wrote:
I've been in an VIA Grant Thornton/aperture since October 2013. I have sent all paperwork required including refusal letter from my mortgage company to remortgage to release equity. My final payment is this month and I have only just heard, after chasing Aperture myself that they have referred my case to Select Partnership to attempt to release equity. What does that mean ? I thought in would just pay an extra year ?


Select will see if a remortgage is, indeed, not available from any other source. As you are on pre 2014 terms (assuming you have a standard protocol agreement) a secured loan cannot be forced upon you, bur Select will explore that avenue and give you the figures --- you do not have to accept, but some people have, when compared to the extra year --- they just like to give you the option. It could be that, at the end of the day, they recommend that neither option are viable and the extension will therefore apply.
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kallis3
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by kallis3 » Tue Nov 20, 2018 7:17 pm
Unless it states in your IVA you do not have to take a secured loan.
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catherine826
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by catherine826 » Tue Nov 20, 2018 8:11 pm
Select will see if a remortgage is, indeed, not available from any other source. As you are on pre 2014 terms (assuming you have a standard protocol agreement) a secured loan cannot be forced upon you, bur Select will explore that avenue and give you the figures --- you do not have to accept, but some people have, when compared to the extra year --- they just like to give you the option. It could be that, at the end of the day, they recommend that neither option are viable and the extension will therefore apply.[/quote]

Thank you so much for your reply, i was sent into a blind panic having got to the end of the 5th year and thinking the end was in sight. Yes it's a standard agreement with no mention of secured loans.
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catherine826
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by catherine826 » Tue Nov 20, 2018 8:14 pm
kallis3 wrote:
Unless it states in your IVA you do not have to take a secured loan.


Thank you, it's not stated in my IVA. I'm very relieved. Although they have not told me to continue to make payments even though I have just made the 60th, I figure I should still do so ?
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kallis3
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by kallis3 » Tue Nov 20, 2018 8:29 pm
I would do so unless informed otherwise.
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