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Dera all,

I have an account with York shire bank.

As my fixed rate is coming to an end,I am considering various options including any offer from my existing provider.

I approached one of the brokers that post here and preliminary exploration was that I may have to pay over 8%.This is because American express obtained a theoritical CCJ.Their loan is included in IVA.It appears as the amount involved in this theoritical ccj is more than 10000 pounds,the effect would be more adverse.

Any how as I was saying, that I have a York shire bank account,when I visited Bank yesterday,I had a conversation and informed of my IVA and intention to seek a remortgage.Surprisingly he said that they may look in to it and suggested that I have chat with their mortgage adviser. I am considering it.

Any comments?

Hara.

What do you mean by a theoretical CCJ? There is either a CCJ in place or there isn't! Have you tried Andrew Graveson or Tony Parsons for an alternative quote? They are getting some very good deals for my clients at the moment. And I don't see why a CCJ is more adverse than having an IVA - but have to say that this is not really my area of expertise.

And you can do no harm by speaking directly to the Yorkshire Bank - this will at least save you a broker fee if they are able to do anything for you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Dear Mrs.Giles.

What I mean by theoritical ccj is that I made an offer when I received court papers.It was not accepted and a date was set for hearing at my local court and before the date of my attendace IVA went through and American express was bound by it and I did not have to attend.

But as the creditors did not accept my offer it was considered as a CCJ.

I am little disappointed of the system.I feel a CCJ should only be entered upon FINAL JUDGEMENT.
otherwise I feel it can not be just as the case will not have been heard from both sides but only from one party.

I feel that proper, correct and just decision will not have been made as both sides will not have been heard.I would not call it judgement.

If a CCJ can be entered with out a proper hearing of both sides there is something fundamentally wrong with the system.

American express are known to be very agressive and unsympathetic.I have heard from other people of similar stories.

Hara.

Hi Hara

I would go see the yorkshire bank advisor,not mention the IVA and just see what new rates they can give you! If you are not borrowing anymore and not moving house they dont need to credit check you just to transfer you on to a new rate!
I would look at maybe a tracker mortgage as rates will prob drop next month and maybe several times again.
Remember the cheaper the rate the bigger transfer fee they might charge you.
i switched rates and I looked at my lenders rates online so when i spoke to them i knew what the rates are and roughly which i wanted.
I think Yorkshire bank are about 6.19% at present.

Just wondering for those who have remortgaged recently what sort of rates they are been offered. Are the rates still sky high ?

Dear jpj,

I do think that they would be doing a credit check,I have mentioned about my IVA , sort of unofficially,to the gentleman I spoke to who I know I can trust.

As we have to fill up an mortgage application I do not think any one would lend mortgage money with out a credit check.

hara.

Hara
They have already agreed to lend to you for up to 25 years.

When your fixed rate ends you are automatically put on to standard rate,your mortgage doesnt end and they dont credit check you when your fixed rate ends!!

I am with the Woolwich,when my fixed rate ended, I merely choose a new product,signed the application for the product and my mortgage carried on as normal.
As long as your up to date with payments they cant refuse to offer you a new rate!

I am with GMAC when my fixed rate is over in 18months time I will have to go back to a broker as GMAC do not deal with their customers directly.

Dear jpj,

My existing mortgage provier at present is MAS and not Yorkshire bank.

Hara.