What happens if my lender refuses to remortgage my house ?

[mediabird]

I am in the last six months of my IVA and have just received an email from my practitioner reminding me that I now have to remortgage my house. What will I do if my lender refuses to do this?

[kazzafunk]

If you are unable to re-mortgage then it is normal for an additional 12 months IVA payments be made.

Has your IP asked you for an up to date valuation?

[Michael Peoples]

It also depends on how much equity is in the property so get an up to date valuation and a redemption figure for your mortgage and [any] secured charges.

[mediabird]

Thanks!
I think I will have equity in my house so if I do continue to pay for another 12 months will I gave to increase my monthly payments?

[mediabird]

I mean have to! Sorry!

[Michael Peoples]

Not unless you can afford it. There will be a review and it should be your surplus income only for the next twelve months.