5th year review?

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phlip
Posts: 16
Joined: Sun Feb 19, 2017 12:04 pm
by phlip » Mon May 22, 2017 8:11 am
Morning all , Just been told I have the extra year due to inability to remortgage and was wondering if I will have another full review going into the extension year ?
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Foggy
Forum Expert
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Joined: Fri Dec 17, 2010 11:14 am
by Foggy » Mon May 22, 2017 8:34 am
Yes, you will have a review going into the extra year --- you are bound, as before, by the agreement until such time as it concludes, so all rules / responsibilities still apply. Atr the end of the final year there will also be a review, but concentrating on income only (as expenses following completion will be irrelevent).
phlip
Posts: 16
Joined: Sun Feb 19, 2017 12:04 pm
by phlip » Mon May 22, 2017 8:44 am
Thanks for the reply foggy
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Lisa Thomas
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by Lisa Thomas » Tue May 23, 2017 12:28 pm
Hi - Have you established that your equitable interest is over the standard £5k? You might like to verify by arranging a valuaiton. This will then mean the year extension will not apply...
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