Iva remortgaging

Hi hopefully I can get some advice .  We r in our last year of an iva . In September we applied for a remortgage as we had a lot of equity on our house and was turned down . 
This was done back in September so we thought we had moved on but now are IP says we have to go to mortgage broker this is very frustrating as we thought we had already did what they asked .  We have 10 years left on our mortgage.  
We have less than a year on the Iva .   Is it so frustrating when we thought we were onto the next stage as the Iva company has let us done . 
How long does it take for a mortgage broke r to find out and how much do we need to borrow 
our debt was £50 ooo 

Comments

  • fatbelly
    fatbelly Posts: 20,176
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    edited 11 February at 1:56PM
    Part of the conditions of an IVA is that you have to attempt to release equity in Your final year in order to pay your creditors and the IVA fees.

    Most people cannot do that so don't put too much effort into it.

    What happens then is that you get an extra year on your IVA

    Debt camel has written a very helpful article

    https://debtcamel.co.uk/ivas-complain-secured-loan/
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