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Mortgage break and IVA
mother_hen_2
Posts: 461 Forumite
My mortgage is with Northern Rock its one of those mortgages where you are allowed to take a mortgage break every 9 months, will I still be allowed to do this if on an IVA? Just thinking that extra bit of cash would come in very useful!
Thankyou
Thankyou
0
Comments
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No idea mother hen.
Why dont you give them a wee ring & see?I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 20 months left.0 -
I haven't fully set it up yet and I'm thinking if I phone them and alert them to it they might log it on my file and keep an eye out and then ask for the cash!
Thanks for your response though!0 -
Hi Mother Hen - could the people you are setting your iva up with advise you? Other than that - you need to try and get an answer from someone like RAS or CCCS_Sarah as they seem to be clue-ed up on this kind of thing. Perhaps try a pm or ring national debtline?
Hope you get things sorted...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.2K updated 16/1/260 -
yes thats a good idea - thanks for that.0
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