Changing Mortgage during IVA

TibbsyMcr

We are due to come out of a 5 year fixed mortage with Abbey at 5.95% interest next year and it will revert to their standard 7.09 rate

We are in an IVA and are concerned that due to us having no chance of getting new credit what options there are at getting back into another fixed rate mortgage so we can manage our payments easily and same amount each month .

Would we have any chance at all of moving to another lender when in an IVA and would abbey be approachable to assist in giving us a new deal at all?

for info we have never had any late or missed payments in the seven years we have been with them

Cheers in advance!
Stephen

opinions4u

I would approach Abbey direct and not even mention the IVA. See what they offer.

_Andy_

Abbey won't need to underwrite the mortgage again so will be your best bet at the moment.

herbiesjp

In the current climate anything with slighty adverse credit history is difficult to place.

So if you are already with a high street lender, stay with them.

Just ask them for a new deal at the end of this one, and it will be your best option - as stated above, as it is a product switch (assuming you are not looking to borrow more money) they will simply put you on the new deal