Halfway through is a great place to be, because trust me the second half will feel as if it is passing so much quicker than the first one. Borrowing money from family members can bring additional problems, so perhaps in the long run your destiny is lying on the right road.
No not that I think of.... No "bank" will lend it, nor are we allowed to borrow it anyway.
Yes I do own my own propery.... Does that make a difference then?
Currently approx 50-60k equity might be more.
*** Don't look back, you're not going that way ***
Not necessarily. It may be possible to fashion a full and final offer supported by bank borrowing. Your IP will undoubtedly agree to the borowing if it is to settle the IVA.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
But what is the point in doing that? You're effectively replacing debt that currently has its interest and charges completely frozen, with new debt that is going to attract interest, that doesn't seem sensible at all
Lem any deal would be constructed to also resolve the equity release clause. There's lots of reasons why people want to do this. For a start the property could increase in value in the next 3 years and/or availability of mortgages returns more widely. In both cases its likely to mean a bigger 'buy-out'. Incomes can increase and result in higher IVA contributions etc. etc. Lots of people just want rid of the IVA, get some surety of outcome and to move on.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
Possibly thinking of Phil Vickery the rugby player or celebrity chef?! Neither look like me but both are far more famous! Biscuits, happy to look at your various options with you. My details are on my profile.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
