As Kallis said it's also if you are able to find a Lender willing to lend whilst in an IVA and if you did so you would be looking at High interest rates which you may feel makes re-mortgaging an expensive option.
I feel your potential provider is being a bit glib just saying you will probably have to extend -- this may be the case, but they should give you a full explanation. Also make sure you get a writen example of how they will calculate equity --- there is more than one way; one to your advantage ( the usual way) and another more towards the creditors advantage !
As others say a RX1 restriction on the sale of the property will be put in place and your partner will be asked to sign it. The current mortgage rate will not be affected at this moment in time.
Who is onlineUsers browsing this forum: No registered users and 5 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location