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Posted: Sat Sep 17, 2016 4:33 pm
by key310865
Good morning I am in the process of sorting out my last year in IVA as well as getting a property value I need to get current mortgage statement. What figure do IVA company use to calculate equity. Outstanding balance or settlement figures. Thanks
Posted: Sat Sep 17, 2016 4:40 pm
by kallis3
Hi,
They will use your outstanding balance and also valuation from an estate agent.
Posted: Sun Sep 18, 2016 7:33 pm
by Michael Peoples
If there are early redemption penalties to the mortgage these should be taken into account when calculating equity although they would not show on the balance.
Posted: Mon Sep 19, 2016 12:32 pm
by Lisa Thomas
As Michael suggests ask for an up to date redemption statement form your mortgage Co as this will possibly a higher figure, reducing your equity.