Halifax Mortgage 'Goodwill' Payment prior to IVA being agreed

Rmeek

Hi folks.

I am just wondering if anyone can offer any wise words before I approach my IP with this scenario.

We have been sent a letter from our mortgage provider, the Halifax, about the error in notifying customers of the interest cap since January 2009. Our rebate is £1,830. Now I have already looked on the forum and know that we are entitled to ask for it in a cheque instead of what they have done which is to credit our mortgage account.

So...a few things. We are currently in the planning stage of our IVA which is to be a lump sum settlement. The lump sum is coming from a very good friend. If we decided to withdraw the money (since it us ours anyway) and use these funds towards our lump sum offer (to reduce what we borrow from my friend), and some of it to do some desperately needed repairs to our house, would this be allowed? I know it might sound like a silly question but I know we aren't technically tied in to anything yet as we have only just signed the paperwork and the creditors meeting hasn't been set or anything yet. Where would we stand with this and would the creditors have anything to say about it? Technically we plan to use it to pay them back anyway.

The other matter is that they are also one of our creditors with regards to the IVA for a personal loan. We have now missed 2 payments. Would they be entitled to take some of this rebate or not? I'm really not sure as they technically took to much money from us and it isn't a bank account or savings.

Sorry about all the questions but forewarned is forearmed I say!

Thank you for your help!