should I look at trying to end IVA early

[Storm]

Looks like your barrel is full sagging breasts as well.........

The max I have seen is 90% L2V but there might be higher products out there but they normally come with knee cap rates.

[olympic_torch]

Storm
I may look into an early settlement after 24 months.
I have to be a little wary as my mortgage is not
due to finish till i am 65 anyway, as we didnt buy
our house till i was 40, which pushes me into
old f@rt territory hence bad risk i think.

Aucto Splendore Resurgo.
(3 down, 57 to go)

[Storm]

How did you come up with the £20k figure??

Lenders arn't as bothered about age anymore, particularly mortgage lenders. The thing that reduces with age is the L2V so that the lender is always covered.

I read a note the other day about 40 year mortgages and income multipliers of 5 x earnings. At that rate tomorrows buyers will never be able to sit back and enjoy themselves without the burdon of a mortgage.

[olympic_torch]

Storm
The 20k is part of our IVA agreement.
60 x £220 and 20k from equity release in year 4.
(quoted on chaimans report as 10k each from me and
mrs torch)

Aucto Splendore Resurgo.
(3 down, 57 to go)

[Storm]

Just wondering what they based that on ??

[olympic_torch]

Storm
Not sure what you mean.
We had a drive-by valuation done as i understand it.
They valued house at 140k, we owed 96k when IVA was
set up.

Aucto Splendore Resurgo.
(3 down, 57 to go)

[Storm]

Ahhh makes sence now........

[Adam Davies]

Hi OT
I think that you are one of the "lucky" ones having the equity release figure known upfront.Maybe lady luck is on your side after all !!!
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Just a quick note on the 60% of disposable income issue - this is not yet being proposed, but is part of the new IVA protocol which should now be confirmed by the end of August. So it will only affect new IVA's, but may form some form of precedence for existing cases as and when the time to raise the money arises.

Your IP probably based the £20k on an 85% loan to value ability in the final year, with a small increase in property value to make up the difference. Are you tied into the £20k or did you get a counter modification.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk