How likely am I to get a remortgage during an IVA?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
norman
Posts: 1
Joined: Fri Jun 30, 2017 4:24 pm
by norman » Fri Jun 30, 2017 4:24 pm
I have been told to try remortgage for my creditors it will be cheaper for me to just pay for another year how likely am I to get a remortgage during an IVA obviously hoping I can't get one as they are wanting £13,000 from me and £13,000 from my son who is also on the mortgage and has an IVA as well ,he has moved away and has nothing to do with the house although he is still on the mortgage ,he was only on the mortgage to help us get the mortgage at the time we bought the house Thank you
User avatar
Foggy
Forum Expert
Posts: 22643
Joined: Fri Dec 17, 2010 11:14 am
Contact
by Foggy » Fri Jun 30, 2017 4:27 pm
Apparently it is possible -- but not at healthy rates. Some firms have access to secured products ( not the same thing) also. The vast majority of people are still getting refusals and, therefore, extensions.
User avatar
kallis3
Forum Expert
Posts: 71297
Joined: Mon Mar 17, 2008 4:02 pm
Contact
by kallis3 » Fri Jun 30, 2017 4:34 pm
Agree with Foggy - it may be worth having a chat with Shaun Vikery who might be able to help out with a secured loan.
User avatar
Lisa Thomas
Industry Expert
Posts: 5588
Joined: Wed Dec 03, 2014 10:26 am
Contact
by Lisa Thomas » Tue Jul 04, 2017 3:52 pm
Check that the equity clause kicks in first - have you established whether you definitely have over the 'standard' £5k minimum equitable interest in your property?
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: ridingthestorm and 33 guests