I couldn't praise FJ highly enough for how they handled our negotiations for a F & F a little under 3 years into our IVA's. Our caseworker, who had been working hard for us went on leave because of a family bereavement (I believe) and thankfully the person that took over the case stepped straight in...

Shaun, I'm not suggesting that a new lender (or to be more relevant to the thread, my current mortgage lender) should give an incentive. I'm saying there is no incentive, a big difference in nuance. I do understand how business works, the perceived higher risk is bogus, as you will agree. It's profi...

Absolutely agree with you Foggy. The whole set up re credit ratings defies logic. Surely our current lenders interest would be better protected if I pay a lower, more reasonable rate to them, rather than having my pants taken down by profiteers! And at the rates mentioned payments would more or less...

Thank you for your interest and responses. Andy, yes we do have an equity release clause, but my thinking was that if I could take a further advance at 'normal rates' now it would leave a bit over to actually live a bit! 11% to 19% as offered as a likely rate obviously makes this a non-runner. To be...

11% to 19% is all I needed to know!

Thanks

Foggy, I understand all that, but at the moment I can only work on the assumption that the rate would be somewhere between 0% and 100%. It is a perfectly reasonable question. I do not wish to waste Shaun, or anyone else's time. This is a forum for sharing knowledge, is there no-one who has taken suc...

Kallis, I think the question was general enough, and being a forum could be answered by anyone with such knowledge. Much as if I'd asked how much I might have to pay for a decent carp rod on a carp fishing forum. BTW I will never be on a carp fishing forum!

Thanks Shaun, So that I can 'run the numbers' can you give me some idea of the range of interest we could expect to pay if we were able to release the equity in our property? I have previously used the current rate we pay on our existing mortgage in my calculations. Obviously there comes a point, if...

Thanks for the responses, I've just noticed an error in my original post. Our original debt was £34,500 not £345,000 as stated. Shaun thanks for your input. I will certainly bear you words in mind. Maybe our situation is rare but surely we are now in a period of punishment which serves no-one. as th...

Thanks again. I understand that lenders are not obliged to lend. I was asking the question to see if there is a protocol, etiquette or precedent! It may be worth a try as I feel we can assemble a pretty strong case. After-all they still need to lend money to some-one. Anyway since I started this thr...

Thanks. On what grounds do you feel they would not lend? I'm not saying they would but , as time has moved on we could demonstrate that we are now in a position of solvency. I know there are will be legal definitions regarding time periods etc. but for us it would seem that what I assume is meant to...

Hi all, Thanks for taking the time to r respond. Would the Nationwide not consider further advance purely on the grounds of the IVA? Our payment record with them has always been good, our outstanding balance with them has consequently reduced. Along with the reduction over time of the amount outstan...

Thanks for that Foggy. I'm just batting the idea around in my head at the moment. I understand what you say about normality, but my wife and I are both committed to not seeking credit in future so the stain on the our credit rating shouldn't be too much of an issue! I would be interested to hear wha...

Hello everyone. My wife and I entered an IVA in Dec 2013 with debts of £345000. Our original payment was £200 then reviewed to £238 and now £583. When we entered the IVA I was self-employed and my wife was working 30 hours per week. Fast forward nearly 2 1/2 years, my wife has had a promotion and is...