Month 50 of IVA

edited 19 July 2015 at 7:43PM in IVA & DRO
9 replies 3.4K views
MUM40MUM40 Forumite
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edited 19 July 2015 at 7:43PM in IVA & DRO
We have today received letter from our IVA provider and requesting the following information:
Mortgage redemption statement - can we just send copy of latest statement?
An open market valuation - how can we get this?
two offers of re-mortgage - how can we go about getting this?

Thanks for all your help, just need some direction on how to go about getting this information.
No. 83 in £365.00 in 365 days 17/365
Jan lunch to work days 10/20

Replies

  • MUM40MUM40 Forumite
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    Any help please. Thanks
    No. 83 in £365.00 in 365 days 17/365
    Jan lunch to work days 10/20
  • Good morning
    The redemption statement is required rather than a statement, the valuation can be done by purplebricks.com or your local agent. The remortgage applications would be with your current provider and then a second. They will both fail on the basis that you are in an IVA anyway.
    Never make assumptions always ask questions>>>>>;)
  • mwarbymwarby Forumite
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    If they are looking for offers, worth clarifying how many applications they want you to make if declined

    Another point to bear in mind, your looking for low realistic valuations, not the headline offers price
  • MUM40MUM40 Forumite
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    Following on from this, we have now obtained valuations from our house, so off to prepare a letter for our IVa company. Our valuation was £85k

    do we just apply on line to a company to remortgage and wait for the rejection letter and submit this to the IVa company?
    What amount do we try to remortgage for?
    We currently owe 31k on our current mortgage and our IVa is 18k

    Thanks for all your help in advance.
    No. 83 in £365.00 in 365 days 17/365
    Jan lunch to work days 10/20
  • mwarbymwarby Forumite
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    You really need to be asking these questions to your IVA firm

    They will be looking for you to raise as much as possible(enough to settle all debts in full and pay the IVA fees), the limit being what you can reasonably afford and a maximum loan to value.

    If you are rejected by your choice of lenders you might be asked to apply to one they suggest, some also look at other forms of secured lending other than mortgages
  • MUM40MUM40 Forumite
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    Well we were upto our 60th payment in May, and had already submitted our expenditure and P60's for our renewal, as was expecting to have to do a stoner 12 months due to equity.

    The direct debit die not come out in June, so rang them yesterday, and queried why.

    They rang me back today to say, that there is no equity in the house, and that our file looks like it now closed, and no further payments are required.

    Our file has gone to closures, so now just waiting for conformation that our Iva is complete.
    No. 83 in £365.00 in 365 days 17/365
    Jan lunch to work days 10/20
  • foxy-stoatfoxy-stoat Forumite
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    MUM40 wrote: »
    Well we were upto our 60th payment in May, and had already submitted our expenditure and P60's for our renewal, as was expecting to have to do a stoner 12 months due to equity.

    The direct debit die not come out in June, so rang them yesterday, and queried why.

    They rang me back today to say, that there is no equity in the house, and that our file looks like it now closed, and no further payments are required.

    Our file has gone to closures, so now just waiting for conformation that our Iva is complete.

    Well done for comming back to update the thread. Good to hear that your at an end.

    :)
  • MUM40MUM40 Forumite
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    Update

    Received a call from our IP querying a PPi payment that we had received and has been paid into our account. We have had to send a letter to confirm that no further investigations would be done in relation to the PPI refund.

    Now just waiting to hear from them with the completion certificate, so that we can get on with our life.
    No. 83 in £365.00 in 365 days 17/365
    Jan lunch to work days 10/20
  • MUM40MUM40 Forumite
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    Finally this week received our completion certificate.

    All over now and done with, just need to keeping checking that the IVA is removed from our credit score
    No. 83 in £365.00 in 365 days 17/365
    Jan lunch to work days 10/20
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