www.iva.co.uk

Hi, I took out an IVA about six months ago, I regret doing it, as I'm very worried about when my fixed rate mortgage runs out in a few months.

I have got no credit cards any more as the bank removed from my account even though I paid it off each month.

I am starting to get a little savings behind me, for the first time in my life, but it's not a great deal.

If my car broke down it would soon get used up, of my fridge broke down I would have to go into my savings.

Anyway,
Can you tell me what will happen when my fixed rates finish with my IVA.

Most lenders will convert the mortgage to variable rate and your IP should allow any extra on your agreed allowances.
I am surprised that you are making any savings in the IVA ... most of us don't !

Also you wouldn't have credit cards anymore as all unsecured debt goes into the IVA even if you pay it off. If you have problems with any of your appliances you can always ask for a payment break to help pay towards it.

Your best option will be to speak to your existing mortgage lender to see what new fixed terms can be offered - they may not undertake credit checks as an existing customer.

Hi my fixed rate ended last year and I was able to go on to another fixed rate with my mortgage provider no problem at all. They sent the letter out to remind me and I just logged on to my account and applied for the rate I wanted.