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Posted: Sat Feb 28, 2009 9:12 am
by Hoovermelon
Hello!!
I have today had my IVA approved through Debt matters. I am currently in a fixed rate mortgage with Northern Rock at a fixed rate of 6.49%. This is due to expire in May 2010. Currently the standard Variable rate is 4.79%, meaning i would be saving about £210.00 per month on a mortgage of 190K. I am due to do on this rate once my fixed rate expires. Would they charge me a higher rate, and would i need to pay tye saving to the IVA.
Cheers
Posted: Sat Feb 28, 2009 9:39 am
by kallis3
Congratulations on getting your IVA approved.
As to the mortgage, I wouldn't worry about it yet, who know what will happen in the next 12 months.
If you do end up paying less towards it, you may find that some of the savings need to be paid across to the IVA. You would have to speak to your IP about this once your fixed rate ends.
Posted: Sat Feb 28, 2009 10:26 am
by flumpy dog
well done x
please keep posting for help and support
Posted: Sat Feb 28, 2009 10:33 am
by Adam Davies
Hi
Well done
Any savings in mortgage costs will increase your disposible income and hence IVA payments. However when the time comes you will fill in a new income and expenditure form and you may find that increased expenses will eat up some of the saving
Regards
Posted: Sat Feb 28, 2009 10:38 am
by debtmountain
Hi Hoovermelon, just wanted to congratulate you on getting your IVA approved..hope you will continue to post as you will get a lot of help and support from everyone on the forum...xx[:)]
Posted: Sat Feb 28, 2009 3:52 pm
by Hoovermelon
Many thanks for all your replies!!
Posted: Sat Feb 28, 2009 4:01 pm
by plasticdaft
Thats great news Hoovermelon.
Posted: Sat Feb 28, 2009 6:15 pm
by Skippy
Congratulations!
Posted: Sat Feb 28, 2009 9:23 pm
by tori
That's fab news Hoovermelon-congratulations and good luck with everything[:)]xx..
Posted: Sat Feb 28, 2009 10:12 pm
by moretolife
[:D][:D][:D]
Posted: Sat Feb 28, 2009 10:42 pm
by Lisa2009
Great news, well done x
Posted: Sun Mar 01, 2009 8:39 am
by n958g
Well done. This is always good news!!!