Could I offer a full & final settlement to end the IVA via remortgaging?

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by april » Sat Jun 03, 2017 4:13 pm
I'm half way through my IVA. I am thinking about remortgaging to pay off my IVA and purchase a decent used car as mine is falling apart. House worth approx £115k outstanding mortgage owed is £26400. Could I offer a full & final settlement to end the IVA via remortgaging as I know there is some clause regarding my house after 5 years of repayments.
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by Foggy » Sat Jun 03, 2017 6:37 pm
There are products for this and I would suggest a chat with Shaun Vickery who, I know, has dealt with this situation before --- a High Street remortgage would likely be refused on your credit rating, so a specialist is the better option. Shaun's details can be found under the "Quick Links" tab (top left) and "The Team" on the drop down.
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by luluj » Sun Jun 04, 2017 5:55 am
Agree with foggy that a chat to the experts on the forum Ryan and or Shaun may prove beneficial in yoyr quest to become iva free.
Let us know how you get on.
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Lisa Thomas
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by Lisa Thomas » Mon Jun 05, 2017 10:27 am
I doubt you will be able to remortgage whilst in the IVA due to the IVA affecting your credit rating but worth checking with Ryan or Shaun.
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Shaun Vickery
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by Shaun Vickery » Mon Jun 05, 2017 4:48 pm
It's always worth weighing up your options and, as you have a significant amount of equity in your property, you could benefit from doing so. Anyone who looks at the forum regularly will forgive me for saying so but it really does depend on your own individual circumstances....all the same it's definitely worth looking at as you have nothing to lose.
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