Melanie,

In our last year of our IVA, year 5, with a mortgage of £185,000, a secured loan of £12,000 and the property valued at approximatley £240,000, does the 85% LTV apply, and is re mortgaging possible or even advisable?
Mel
Mel

Melanie, My IVA practitioner's mortgage dept has informed me that they are not willing to assist with a remortgage, desptie my wifes employment concerns, and also that a final settlement figure will not be the sum pledegd for the entire course of the IVA, but a complete review and the total sum owed...

I am considering re mortgaging to pay off my IVA. This is for several reasons, of which my wife's employment may be at risk due to having an IVA being the main factor. I am still in the first year though. What will I be expected to pay (i.e is it the total sum of the 5 yr monthyl payments), do I com...

After a year in an IVA, do you know what sort of interest I can expect? If you are already in the IVA any mortgage package would be based on this.... Lenders prefer you to have been in an IVA for at least 12 months - the maximum loan to value would be 80-85% - the interest rate will be slightly high...

Melanie, Many thanks for your response. I am keen to put this behind me, as my wife and I are both in an IVA. It could affect our promotion/employment prospects, so am curious as to the possibility of getting a remortgage to pay the total, in the next year or so ( hoping equity will be greater) and ...

Will do, but what sort of interest rate can I expect? Hi Patrick, Better to pay the IVA off earlier than later the IP is looking to get 100% of the original debt back anyway. A number of companies will remotgage you after 6 months IF you have paid the last 6 months IVA payments ontime and havn't mis...

Although already in the first year of an IVA, would it be possible to get a larger mortgage, pay off the debt indicated in the agreement, and start to better my credit score that will allow me to move house/get a better morgage deal in the future?



Pat