www.iva.co.uk

Hello

Does anyone know if it is possible to get a secured loan (for essential house repairs) when iva is still on our credit records? We ended the iva early with a f&f. It's been about 3.5 yrs since the iva began.
We have a mortgage with Magellan and have about 60% equity.
Thanks!

Hi, not sure to be honest but I do know that equity release these days some companies are wanting clients to take a secure loan so my guess is it's possible but not sure who with. Hoping others will know.

Hi Blobby. Have a word with Shaun. I know he has access to secured loans in some circumstances.

Contact details here:


http://www.iva.co.uk/forum/pop_profile. ... y&id=22837

Oh yes of course, we used equity finance for the mortgage so will get on to them. Thanks! Didn't realise they did secured loans too.

I should have also asked... Is there any other option or is a secured loan the best one? We've not had the mortgage very long, so I guess we can't add to that?

Shaun would be best suited to answer that one as well ---- a secured loan would be easier on paper, but you need to look at the figures too.

Thank you!

It may be possible to get a remortgage but definitely speak to Shaun. A secured loan may be the best option until you can remortgage the lot in a couple of years.

We haven't had this mortgage long, less than a year. We only have 60000 and the house is worth 150-160000, so what do you think our best options are? I will contact Shaun on Monday, but just after opinions. Thanks.

Not sure what the best option would be but there is substantial equity. Hopefully Shaun can sort this out for you.

I've contacted the guys at equity finance, the person who originally sorted our mortgage is on the case thanks!

Best of luck Blobby and hopefully this can be sorted out for you.