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Posted: Tue Jul 19, 2016 3:20 pm
by Ali.k
do all iva companies take 15% of my remortgage at the end of the iva
Posted: Tue Jul 19, 2016 3:42 pm
by kallis3
Hi,
Chances are that you will not be able to remortgage and, if you have sufficient equity, your IVA will continue for a further year.
Posted: Tue Jul 19, 2016 3:52 pm
by Michael Peoples
IP firms are usually paid 15% of realisations so if you do raise a lump sum your IP will be paid. However as Kallis says this is unlikely anyway as very few people get remortgages while in an IVA. This may change over the next few years depending on the mortgage market itself.
Posted: Tue Jul 19, 2016 6:02 pm
by Foggy
15% is the current usual fee agreed with the creditors -- indeed this figure has, over the years, been creditor led and it is they who have been amending proposals to this figure. I gather a few firms do charge more.
Posted: Wed Jul 20, 2016 9:31 am
by Lisa Thomas
The 12 month extension will probably apply to you instead as you won't be able to remortgage in the current climate whilst in an IVA.