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Posted: Sun Jul 15, 2012 1:59 pm
by rudolph.ae
i`ve completed 5 years of my IVA but as part of the term &conditons i have to remortgage but i have already being rejected by one lender because of my poor Credit score.What option will i`ve if cannot secure a remortgage me , my family are literally at breaking point.
Posted: Sun Jul 15, 2012 2:10 pm
by Foggy
Hi Rudolph. The answer will, hopefully, lie in your original paperwork under the equity conditions. This should detail what will happen in the event that you are unable to remortgage. If it is silent on this subject you will need to speak to your IP.
Which company are you with?
Posted: Sun Jul 15, 2012 6:37 pm
by Broke of London
Hi Rudolph - your IP I'll be used to people not being able to remortgage. They'll be able to help you. Your iva ont fail over this!!!! x
Posted: Sun Jul 15, 2012 6:41 pm
by MelanieGiles
What does the proposal say you have to do if you cannot remortgage? In many cases the IVA will merely end at the end of the 5th year, or you may have to pay for an additional year if there is equity that you could technically raise if you could find a willing lender.
I am really suprised that your IP appears to be giving you no support or guidance in this important area.