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Posted: Mon Aug 02, 2010 2:36 pm
by tristan
ive just finished the 4th year so its time for equity release the valuation of the house is 115,000,my motrgage is 83,000 andthe clause is 75% will normal banks remotgage me ?
Posted: Mon Aug 02, 2010 3:07 pm
by kallis3
You can try, but it is unlikely that you will be able to.
You may find that you will be asked to make a further 12 months contributions.
Posted: Mon Aug 02, 2010 4:00 pm
by plasticdaft
Normal banks wont touch you with a bargepole. You could try your current lender but dont expect favourable rates.
Paul
Posted: Thu Aug 05, 2010 5:00 pm
by tristan
my iva wont fail will it if i cant remorgage?
as so far its not looking good
Posted: Thu Aug 05, 2010 5:07 pm
by kallis3
You will probably have to make further contributions.
Speak to your IP about this. It is not anyone's interests for the IVA to fail now.
Posted: Thu Aug 05, 2010 5:48 pm
by tristan
just spoke to my IP PETER JACKSON and he says its just the current climate and dont worry,it just means that it may be extended by 12 months
Posted: Thu Aug 05, 2010 5:52 pm
by kallis3
Good news!