Mortgage help please

[bettyboop]

We have been told that we will need to cash in our endowment policies to put into our IVA. My question is for the amount of mortgage that the endowments should have eventually paid off, how and when will this get paid off if we are only paying the interest? Would we be allowed to switch to a repayment mortgage whilst being in an IVA?

Advise would be appreciated

[Adam Davies]

Hi
I would switch to an repayment mortgage before entering into your IVA if you can.If not switch once your IVA is completed
Regards

[MelanieGiles]

I would wait until your IP has reviewed your case (which can only be done when they have received all of your paperwork) before you do anything with regard to your investments or mortgage.

[bettyboop]

Thanks for the advise. Was just worrying that we might not be able to change mortgage once in IVA. Most of our paperwork has been returned to you now, Just waiting for last couple of bits to come through so hopefully will be able to discuss this with you soon.

Thanks again

[MelanieGiles]

We'll decide on the right course of action for you before the IVA is finalised, and I will get Angela to arrange a meeting for you asap to discuss the right way forward.