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    • nrishiraj
    • By nrishiraj 4th Oct 17, 2:58 PM
    • 219Posts
    • 25Thanks
    IVA and renewal mortgage
    • #1
    • 4th Oct 17, 2:58 PM
    IVA and renewal mortgage 4th Oct 17 at 2:58 PM
    I'm currently in a fixed term 5 year mortgate which will end in 2019. Cut a long story short, I may have to go via an IVA route as I've got over 20k+ of credit card debts.

    Question...will it be difficult for me when it comes to renewal? Can the lender reject me? Bare in mind that I've never missed a repayment for my mortgage.

Page 1
    • StopIt
    • By StopIt 4th Oct 17, 3:39 PM
    • 1,394 Posts
    • 1,250 Thanks
    • #2
    • 4th Oct 17, 3:39 PM
    • #2
    • 4th Oct 17, 3:39 PM
    You may not get a good fixed rate, but should just fall back to the SVR, it does depend on the lender though.

    You shouldn't lose the mortgage however.

    Speak to the mortgage provider, they'll tell you what to expect.
    • EssexHebridean
    • By EssexHebridean 4th Oct 17, 3:44 PM
    • 8,717 Posts
    • 45,938 Thanks
    • #3
    • 4th Oct 17, 3:44 PM
    • #3
    • 4th Oct 17, 3:44 PM
    You've got over a year to tackle the debt ahead of the mortgage fix ending so I'd suggest your first port of call is to put together your SOA (Statement of Affairs) and post it in here - we can have a look and see if there is any savings you can make that may save you from the IVA route?
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 1229.00/982.19 (04/06/18)
    SOA Calculator for DFW newbies: SOA Calculator
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