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Posted: Sun Mar 28, 2010 2:50 pm
by dwardle1978
What is the best thing to do if my current Mortgage lender refuses to release equity? I have a fixed mortgage at present and am required to realease about 8k in August depening on the valuation (expected to be lower that four years ago).
Posted: Sun Mar 28, 2010 2:51 pm
by kallis3
Hi, and welcome to the forum.
It will depend upon what it says in your proposal/chairmans report. It may be that you will be expected to do another 12 months. Speak to your IP about this.
Can I suggest that you change your user name? You may find that you get loads of spam if you don't.
Posted: Sun Mar 28, 2010 5:32 pm
by MelanieGiles
You should discuss this with your IP as it may be very unlikely that you will be able to release any equity whilst in your current IVA. Was the £8k a fixed sum you were required to raise, or was this based on a particular loan to value calculation?