mortgage without the massive deposit ?

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Moneystinks

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Post by Moneystinks » Tue Jul 15, 2008 8:06 pm
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Oh right okay.

I suppose it is better than paying out for years and years though [:(]

Thanks for that. X
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angela18

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Post by angela18 » Tue Jul 15, 2008 8:11 pm
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melanie, could they ask for modifications in existing IVAs or is it not possible
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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MelanieGiles

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Post by MelanieGiles » Tue Jul 15, 2008 8:12 pm
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Only if a variation is put to them Angela.
Regards, Melanie Giles, Insolvency Practitioner
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angela18

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Post by angela18 » Tue Jul 15, 2008 8:21 pm
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ah I see.. scary really how things are panning out.. hope we have no need for a variation
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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Soulgrowth

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Post by Soulgrowth » Tue Jul 15, 2008 8:32 pm
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I checked my mortgage agreement the other day ... I must have had one of the last mortgages from "Preferred". As a subprime mortgage it was a fixed rate of 7.5% for two years. I have another year to go on the fixed rate then it rises to 10%!! Still affordable ... but does anyone have any crystal balls as to where things may be in a years time?

Debbie
Debbie
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angela18

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Post by angela18 » Tue Jul 15, 2008 8:35 pm
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i haven't debbie.. but i wish i did
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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Moneystinks

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Post by Moneystinks » Tue Jul 15, 2008 8:40 pm
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I'd quite like one so I could scan over lets say the next 5/6 [:D][}:)]
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angela18

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Post by angela18 » Tue Jul 15, 2008 8:44 pm
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if you'd had one you could have packed an overnight bag on saturday.. he he
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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nervousperson

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Post by nervousperson » Tue Jul 15, 2008 8:49 pm
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kallis3 wrote:

If your clause is anything like mine, then if you can't get a remortgage, your IVA will just continue for a further 12 months.
Just checked and you're quite right...if I can't raise the funding then it carries on for a further 12 months in lieu

However, after the remortgage I'm unlikely to be able to afford the same level of payments. As such I'm not 100% sure I'd be able to make the target %age required to be paid back...

Mortgage is currently about 75% LTV so just wondering if it's worth seeing if I can change my mortgage from repayment to interest-only and put the repayments into the IVA.

PS My IVA has been going for about 18 months...
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Soulgrowth

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Post by Soulgrowth » Tue Jul 15, 2008 9:01 pm
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That's an interesting proposal! Will be interested to see the answer.

Debbie
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nervousperson

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Post by nervousperson » Tue Jul 15, 2008 9:08 pm
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Soulgrowth wrote:

That's an interesting proposal! Will be interested to see the answer.

Debbie
Needs some careful mathematics first....

... and a crystal ball ...
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kallis3

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Post by kallis3 » Tue Jul 15, 2008 9:11 pm
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With our clause, the repayments on the remortgage cannot be more than 50% of our IVA payments, which at present are £240 and £315 each.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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Viki.W

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Post by Viki.W » Tue Jul 15, 2008 9:20 pm
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In 2011, my dad's fixed rate ends, he'll be 73 then, I wonder what deal he will be able to get?!
If you would like to talk to me about your debt problems, please visit:
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angela18

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Post by angela18 » Tue Jul 15, 2008 9:22 pm
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ours finishes 2011!! not 73, just feel it
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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kallis3

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Post by kallis3 » Tue Jul 15, 2008 9:27 pm
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In one way, I'm glad I'm not on a fixed rate, at least that's one less worry.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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