We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
IVA Remortgage worry
Options
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
-
bump
................0 -
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards