So what I'd like to no is If the equity is 5k or 50k is it still the same ? I.e. A extra 12 months payments
Sorry if this is a silly question!
stu1970 wrote:What if I am able to remortgage! How much equity will they want ?
If I have £5k equity or £50k equity. Is it just the value of a extra 12 months payments in 1 go
It is usually 85% of your share of the equity -- but there are limits placed in your proposal as to the length of time you are able to borrow and the payment must not be more than half your IVA payment, both of which would limit the amount a lender would allow you to have.
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