mortgage ending same time as IVA ends

mavon

Just realised that our final mortgage payment will be either the same month or 1 month either side of my husbands IVA ending.He has just completed the first year.It is stated in the IVA that due to our age it is unlikely that we will be able to remortgage.Will there be a problem when this happens?We chose IVA rather than bancruptcy because we needed to safeguard our home as we have a vunerable adult son with severe mental health issues who cannot cope on his own.

Depth_Charge

mavon wrote: »

Just realised that our final mortgage payment will be either the same month or 1 month either side of my husbands IVA ending.He has just completed the first year.It is stated in the IVA that due to our age it is unlikely that we will be able to remortgage.Will there be a problem when this happens?We chose IVA rather than bancruptcy because we needed to safeguard our home as we have a vunerable adult son with severe mental health issues who cannot cope on his own.

Hi

A few questions if I may

What type of mortgage do you have?

Is there any equity in the property?

What else does it say about the property in the IVA papers / proposals?

Has he spoken to the IP about this issue?

mavon

oops silly me,how i could make such a mistake i don`t know but
we have 9 years left on mortgage not 4