If you take out an IVA, then your credit rating will be shot for 6 years after approval so you would just have to take a chance with your lender and hope they would renew.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Well presumably you are on a current fixed rate - when it comes to renewal they will renew but it might be a tad more expensive - don't worry about it as it is 3 years down the line.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
My fixed rate mortgage finished last September,i am with NR, they didn't refix it and it shot up by £130.00 per month, I did try several other companies but with no joy, luckily with the interest rates low, my mortgage is slightly less now than when it was fixed, just hope, I still had to stay with the same company though, just hope interests rates stay low for a while.
Having spoken to a lot of lenders over the last few months most of the high street lenders now want to see your IVA completed at least 3 years before they will touch you. Sorry to be the bearer of grim news. Of course things may change and when the time comes as has already been said try your own lender or a good mortgager broker.
