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Posted: Tue Jul 05, 2011 4:58 pm
by caraf
Hi all.
I am in Year 4, and will be asked to re-mortgage next year.
Has anyone managed to re-mortgage ? is there any companies out there who are offering to people in IVA ?
Please let me know
Regards
Posted: Tue Jul 05, 2011 5:01 pm
by kazzafunk
As far as I am aware it's virtually impossible to obtain equity release in an IVA in the current climate.
You need to check your proposal but most posters on here are expecting to pay 12 months more IVA payments in lieu of equity release.
Posted: Tue Jul 05, 2011 6:28 pm
by kallis3
Agree with kazza - you won't be able to remortgage so you may well have to pay the extra.
Check what it says in your proposal.
Nice to see you by the way caraf - hope you are well.
Posted: Tue Jul 05, 2011 7:46 pm
by Shining
Do check your proposal as it also depends on if you have equity in some of them. I'll be looking for a remortgage after next Feb and personally not looking forward to it. x
Posted: Tue Jul 05, 2011 8:10 pm
by kallis3
Mine will be shortly after yours Lesley - I shall try my mortgage provider first but as they told me I was bankrupt once we had been accepted, I'm not holding out any hopes even though we've not missed a payment!
Posted: Tue Jul 05, 2011 8:29 pm
by Shining
It's just the hassle of getting rejections Jan that I don't fancy, I know it has to be done and I'll do it but not looking forward to it, but I guess at that stage we'll be looking to be on the home straight. x
Posted: Tue Jul 05, 2011 8:31 pm
by kallis3
Exactly! The rejections I'm not bothered about - I know I'll have the extra 12 months but at least I will be seeing a brighter light at the end of the tunnel!