We have been asked to try and remortgage despite PPI refunds.

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stephen183
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by stephen183 » Thu Mar 23, 2017 7:40 pm
hi we have have been ask to try to remortgage for a total of 22000 with a house value about 155000 outstanding mortgage of 108000 and with 60 payment of 281per month with a debt of just under 30000 with about 10000 in ppi refunds.
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Foggy
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by Foggy » Thu Mar 23, 2017 7:55 pm
The total outstanding during an IVA is comprised of the full original debt, plus fees and also possible statutory interest, so they wouyld still be looking to remortgage to get nearer this amount. However, there is little chance of being able to remortgage and, assuming you have the usual clauses, a 12 month extension at the current rate will be the outcome -- however you do need to jump through the hoops and get refusals.
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