I know - I would still have argued against it if the need had arisen as it doesn't seem right to me based on what the experts have said on this and other forums and the protocol itself. I suppose the best thing to do, which I didn't unfortunately, is to get confirmation in writing at the start of ar...

Hi dancer/foggy - just received confirmation that i don't have enough equity so no extension to my arrangement which means only 6 months to go until debt free!! It was touch and go as IP maintains 100% LTV is correct but due to mortgage and house valuation they agreed I was going to be below £5,000 ...

Hi all and apologies for the absence, but my case has been with the complaints team for the last 6 weeks so have had nothing to update, but finally got agreement today that no extension necessary so only 6 months to go. I must point out though that my IP still maintains 100% LTV is correct and only ...

Hi newtoallthis, I'm in exactly the same position as you. House valuation £125,000 so 85% LTV = £106,250 and mortgage of £108,500 so negative equity BUT at 100 LTV i.e. £125,000 - £108,500 = £16,500 equity and therefore I may be asked to extend in lieu of this. My case is currently being looked at b...

Hi all, and congrats marathonman. I know I've come into this a little late, but am in exactly the same position with Payplan. House valuation £125,000 so 85% LTV £106,250 and mortgage of £108,950 so negative equity which Payplan have agreed. Also agreed my arrangement is 2010 compliant but say that ...

Thanks for the advice everyone and dancer, your input is really helpful as you have experience of Payplan so I know the best way to approach this. I'll do as you suggest and get back asap. Thanks again

Hi guys. Been on to Payplan who have now agreed no equity at 85% LTV, but say that I now have to look at 100% of house valuation ie house value £125,000 mortgage £109,000 so equity £16,000. My share is £8,000 and 85% of this is £6,800 and as over the deminimis of £5,000 I need to pay another 12 mont...

Thanks Dancer - I can see where the figure comes from now - although why they should double the £2,734 to say there is £5,468 is even more confusing!As Foggy said I don't think I can release a negative amount so I have emailed Payplan asking them to confirm no equity release applies and will let you...

Will do - thanks again for the help and advice. Hopefully just 6 months to go!

Hi guys, and first of all thank you for the advice and help provided. Just heard from Payplan and now really confused. They agreed house valuation of £125,000 and agreed 85% of this would be £106,250 - outstanding mortgage is £108,984 so no equity right? Wrong! They say there is £5,468 to release be...

We with Payplan, who have now just confirmed that, using 100% LTV on our mortgage there is just over £12,000 equity i.e. £6,000 each so we have to try and release. Using 85% LTV gives £8,000 equity between us i.e. £4,000 each and so below the limit. This doesn't seem right to me.

Hi, I am in month 54 of my IVA and have issued my valuation and redemption documents, but am unsure if both my wife - who also has an IVA - and I both qualify for the £5,000 limit on equity or it's £5,000 between us both? I think we have around £7,500 equity between us i.e. £3,750 each so it's i...

Hi, My wife and I have IVA's and have just started our 5th year so will need to look at re-mortgaging in 6 months. We have a joint mortgage, so do we both qualify for the £5,000 deminimis over 85% of the house value, or do we get £2,500 each? We're really close to the £5,000 but really don't want...