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Posted: Mon May 16, 2011 8:31 pm
by No_Money
If so how long you been on it, as Halifax are going to pull mine and put back onto caapital repayment...
Posted: Mon May 16, 2011 9:49 pm
by robbiegooner
Hi.dont wish to be a bearer of bad news but i am with Halifax and my mortgage was converted to interest only for 12 months to help me through a tough financial period.Within those 12 months i have been accepted into an IVA and my expenditure reflected my mortgage repayments returning to capital and interest.
I am thinking the Halifax did the same for you.
However, dont give up!! Speak to them as soon as you can!! Good luck.Rob
Posted: Mon May 16, 2011 10:05 pm
by No_Money
Dam.. if tthey can't do anything i can't see the Iva lasting for more than 3 months... a lot of my debt is with them as well so they will get nowt!
Posted: Mon May 16, 2011 10:09 pm
by kallis3
Speak to Halifax tomorrow and see what they say before making any decisions at all.
Posted: Mon May 16, 2011 10:18 pm
by No_Money
I will thanks Kallis, am hoping that will understand my situation and work with me
Posted: Mon May 16, 2011 10:21 pm
by kallis3
I hope they will, got everything crossed for you.
Posted: Tue May 17, 2011 11:25 am
by danieln
im with halifax and have been in my iva for 17 months...
I never heard them mention about changing it back from interest only???
Posted: Tue May 17, 2011 11:44 am
by No_Money
My original mortgage was capital repayment, swapped to interest only to help me out but now been informed I can only be on this for 3 years... Suspect different if started out on interest only
Posted: Tue May 17, 2011 11:54 am
by danieln
No mine was capital and I changed it pre iva as recommended by IP due to the low amount I had left over after my outgoings...
So I have been on interst only for 18 months or so... no meniton of this to me?
Did you tell them you were switching due to being unable to meet all payments, im pretty sure I did...
Posted: Tue May 17, 2011 12:22 pm
by No_Money
I told them I couldn't makke the payments and agreed to swiitch me, think when I called I got a lady having a bad day as she said to pay my unsecured debts and just pay the mortgage, told her the extra she wanted waas more than the IVA payment so i can't.Was a little more helpful then
Posted: Sat Aug 13, 2011 2:04 pm
by shaunkip
Did you manage to stay on interest only when you spoke to them? Just going through the same thing myself.
Posted: Sat Aug 13, 2011 6:20 pm
by No_Money
Yeah, but only for another 12 months then have to revert back or they will default me! Great
Posted: Sat Aug 13, 2011 6:22 pm
by kallis3
Not good but at least you do get that extra 12 months.
I must admit that I am thankful to be on SVR at the moment!
Posted: Sat Aug 13, 2011 7:24 pm
by No_Money
we're on SVR and interes only thank god!
Posted: Sat Aug 13, 2011 7:26 pm
by kallis3
I'm not interest only but I am thankful that I'm not!!