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IVA Remortgage worry
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pool-hustler
Posts: 181 Forumite
how much equity can be taken at the end of an IVA.
Is it the whole original debt?
One other thing...
I have a tracker. Does a re-mortgage mean i'll lose this rate?
Is it the whole original debt?
One other thing...
I have a tracker. Does a re-mortgage mean i'll lose this rate?
0
Comments
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bump
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Think of the value of your home - be realistic!
Multiply that value by 0.85 (so £100,000 house would only be £85,000)
Now take away the amount of your outstanding mortgage.
This is not an exact science but it's close enough to the realistic figure you may have to address!
No mortgage cmpany will lend you more than 85% of the value of your home - it's doubtful you'd even get that!
If you have a small amount of equity say under £5k or £10k you might be able to simply extend the IVA by 12 months (not ideal when you're looking forward to ending the IVA but it is the better option!)Would you ask the wolves to look after the sheep?
CCCS funded by banks0
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