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Posted: Fri May 09, 2014 10:05 pm
by nigelpearsonasher
I am 18 months into our IVA we have just come out of or fixed mortgage deal while at the moment this means I currentley pay a little less at moment we have been told that the intrest rate will go up soon and we could see a raise in the payment amount Is there any mortgage provider that will take us on a fixed deal
Posted: Sat May 10, 2014 8:40 am
by Foggy
Hi Nigel. To be blunt, no other mortgage lender will touch anybody in an IVA.
Many arrangements allow the IP the discretion to reduce payments ( without having it tacked on at the end) by up to 15% without having to ask the creditors to agree, so any rise in mortgage repayments can be countered this way.
Posted: Sat May 10, 2014 8:51 am
by orange
We are 3 years on and are struggling to get one
Posted: Sat May 10, 2014 9:06 am
by Nutkins
Hi orange! Do you mean 3 years post completion and still unable to obtain a mortgage? If so what reason have you been given by the banks