hi ,,, im due to remortgage in the 4h year

[shuli_b]

I was just reading this blog and realised that i should stop feeling stupid about asking remortgage questions. i feel better now knowing that i am doing the right thing by looking into my options and planning what i can do, so i don't get into a panic when the time comes.

[David Mond]

[:D][:D][:D]

[plasticdaft]

The remortgage/equity release is probably the least understood part of all IVA's,possibly because if explained fully it would scare folk away!!
Asking questions on here is the best way to ensure you are happy with whats going to happen when the time comes,although that will of course depend on the state of our country's interest rates and lenders attitudes. I fear that not many lenders will go near us evil people with a barge pole,without a substantial deposit,but IMO this may work to peoples advantages as IVA's will end early or continue for a further 12 months(better than a remortgage that may take years longer to pay off!!)

[MelanieGiles]

It should not be the least understood Paul - it should be the most understood because IPs should make sure their clients are fully aware of what is going to happen during that final year.

[David Mond]

The Standing Committee on the IVA Protocol is aware of this.

We are working on reviewing the clauses and giving specific examples which should be promulgated in June if not before.

[plasticdaft]

I fully agree Mel that this should be the bit that most people totally are happy with but how many people do we see on the forum coming into year 4 and asking whats going to happen regarding remortgaging??

Remember Mel,not all IP's are as upfront as you and David etc,if this was the case then no one would ask a single question on this forum,and the fact that several dozen people use this forum to ask questions daily then clearly not all IP's/firms are the same.

This all just backs up the point to anyone new whos reading in to make sure they ASK if they are unsure of anything,hard I know when someone is offering you what may appear to be an easy way out after possibly years of struggling with debt.

Paul.

[shuli_b]

I always ask the forum the same questions i'd ask my IP directly, only because many others may wonder the same thing and now they can find the answer to their question on here.

**Point to be noted not all cases are the same so even if you do get advice from forum, please confirm with your own IP because the answer may not always be the same**

[MelanieGiles]

That is a very good point Shuli, and we are grateful to all posters for sharing these issues, as even experienced insolvency practitioners can learn a thing or two!

[kabby3]

I feel Kalla always post in quite an aggressive negative way...they always sound very judgemental.

Just my opinion.

[David Mond]

Maybe it is just her style and in any event kabby3 everyone is entitled to express their views on this forum and give in some cases their input which might be considered opionionated and sometimes can be misconstrued.