www.iva.co.uk

Hi,
Although my ex and I have decided to sell the house in order to release the equity - just out of curiosity, are there any remortgage deals out there for people with IVAs? Or are most people selling or extending the IVA by a year?

A sale is never complete until the forms have been signed so if this falls through my ex and I may well look at remortgage deals.

Welshboy (Tony Parsons) is usually the best person to advise on remortgages. I'm sure he'll pick up on this.

Hello ordinary-world,

There are deals out there at present but they are not as they were a couple of years ago.

The loan to value has been lowered considerably and also the rates have increased greatly, not ideal but I am confident it will improve.Tony

People have to realise the long term costs of these new wave sub prime mortgages,and also remember that even if they remortgage onto a 2,3,4 year deal that even after it ends they may well still struggle to get an "ordinary" mortgage!!

plasticdaft

I don`t know what you mean by ordinary mortgage?

A sub prime or adverse mortgage is no different to a "ordinary mortgage" as you put it.

The difference tends to be the interest rate and having said that a coyple of years ago you would be hard pushed to find to much of a difference with sub prime/adverse and high street deals.

Because the lenders are not on the high street as per your bank or building society it doesn`t mean they are anything to fear. They have to operate under the same FSA guidelines on mortgage lending.Being a high street presence doesn`t mean a thing, look at the bright sparks in banking and what they have done to the economy and that bears out my point.

The rate tends to be a little higher as the lender is taking a little more risk. Hope this helps you to understand.Tony

Excellent advice - many thanks!

Good luck OW.

Thanks Jan - hopefully the deal won't fall through but if it does then Tony's message is quite reassuring.

Best wishes,