I think you can relax from that information - Lenders have very strict affordability rules these days and no-one is going to lend you that amount over a 6 year period so the re-mortgage option really won't be possible.
Regards
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
Hi Ryan. I do hope I can relax a bit. It's been driving me mad the past few days to how is, or I, have allowed it to get in a muddle like this. Whilst yes it's my IVA and there's an element of self management to it, I do believe that if you have an IP that they should oversee it and as one company States, ' should make the equity release clause as straightforward as hassle free as possible by taking the worry out of your hands'' - you can only do what's asked of you. I'm going to have a good read of my agreement again today and read some of the letters DFD sent about creditors reports etc as there was a variation sent in year 2 from memory about distribution of funds so I'm relatively confident I won't unearth any may surprises.
Thanks for your help Ryan.
