www.iva.co.uk

Hi,
I am in the last 10 months of my IVA and i have been asked to re-mortgage as part of my IVA agreement.

The problem with this is that i cant re-mortgage becasue of my credit status and the current market conditions. Any ideas?

My IVA company have provided me with a list of possible lenders but all these sound a bit suspicious to me. !!

Hi,

If your IP company has provided you with some companies, then they should be ok.

What you will probably find is that if you can't remortgage your IVA may very well be extended for a further twelve months.

Give one or two of these companies a ring.

Is it up to an IP to suggest lenders for a 4th year remortgage??

Thanks for the advice guys..

Interesting thought.

If i have to re-mortgage as part of the last year equity release, the IVA is in my name only not my wifes, who is also on the mortgage.??

What would happen to the equity, or at least her part of it. !![?]

I would definitely have a chat with your IP about the potential extra year payments in lieu of the equity release. Worth having a look at the lenders though.

Hi martinego3 and welcome to the forum, we'll leave your question bumped up for a professional to answer. Are you currently in an IVA or thinking of entering into one?

I think, and I do stand to be corrected here, that it will just be on your half of the equity.

In answer to the question.

I have been in my IVA for just over 4 years.

Not really had too much trouble with it. There was an occasion where i had to reduce the amount (agreed) for 3 months due to unforseen circumstances ( my car packed in).

All that behind me now but there will be a small amount of arrears at the end, which i will of course pay off.

My IVA practitioner is KS Tan... not too sure about them.

Silly question but, surely if my IVA people released my credit status i would perhaps get a better mortgage deal, they would be happy, i would be happy and it would provide me with a better footing for the future so as not to get sucked back into this problem ever again.

Thanks guys for the help / advice so far

Your credit status is not down to the IVA company to sort out. It's the creditors who tell the CRA's what to put down.

Nithing wrong with IPs suggesting lenders - in reality it is unlikely that anyone will lend to someone in an IVA at present unless the LTV is very low.

How do i know what or if my IVA people are paying the creditors.

I guess the end is in sight, so i'm getting a bit twitchy.

Only 10 official months left [|)]

Will my credit rating ever get better...[:(!]

This should have been reported on in every annual report you have received Martine.