www.iva.co.uk

WE have to pay painting costs every five years to our landlord. The average amount per 5 years is £2000.
We are currently paying part of this in with our rent.
Should I notify the IP of this arrangement as we just gave them the rent figure which includes the painting costs for our I & E or should we just go with the figures they have.
We hope to pay this amount off in 21 months time and we would then be obliged to let the IP know.
Can anyone advise

Hi Paulmel you should have sent your IP a copy of your rent agreement so if the painting costs are included it should be fine,if your rent decreases in the future of your iva then your monthly payments will change depending on your disposable income.It would be worth giving your IP a ring to clarify this.

If the painting costs are included then you should be fine at the moment. Once you have finished thought then you will have to let your IP know.