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AJB
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by
AJB » Wed Mar 02, 2016 10:15 pm
Wonder if I can get some advise please. Just going through the equity release malarkey with Creditfix and after having to chase them I'm finally getting somewhere. I received a letter from CF last week stating the equity release is £46k as of 85% LTV, although I'm querying this not because I think it's wrong but it should be 50% of that figure as it's a joint ownership with my wife. That's not the issue further down the letter it stated I had to remortgage which I know, but that a "remortgage includes other lending, such as a secured loan." I thought thus should not apply to me but now I'm wondering as my IVA started in May 2011. It also said they will introduce me to a company called Just Lending (Scotland) Ltd to look at lending options. It did also say I could look into this myself to try and remortgage and provide evidence of rejection etc. I assumed all this was just a standard template letter. I sent in two mortgage rejections with HSBC and Chelsea Building Society, which my caseworker accepted and said he would look at progressing a way to move forward. I assumed it would be continue the IVA for an additional 12 months. However last night I had a call from someone from Just Lending from a number suspiciously similar to a CF number to discuss equity release, I had to put them off as I was about to go out so she will call back probably today. Can't say I'm too happy my details have been passed to this company and certainly don't want a secured loan with stupid interest rates, we haven't come all this way to be saddled with more debt. My wife is livid and will point blank refuse to be included in a secured loan (can she do this as she's not in the IVA?).I just wondered what my options were? Can I just say no thanks to Just Lending as I've already sought to remortgage? Can I decline to use them full stop or do I have to see what they offer? Can I refuse a secured loan?Anyone else been through this with CF? Sorry about the long post but after a stress free 5 years this is making me anxious. Any responses greatly appreciated.
