We'll write to your secured lenders to get a recent redemption statement.
If we're unable to get the statement we may need to contact you to ask your secured lender to provide the redemption statement.
Valuing your property
The valuation of your property is completed online. However, in some cases we may need to instruct a local surveyor to visit your property.
The remortgage is based on 85% loan to value of your property.
This is worked out by reducing the value of your property by 15% and then taking away the amount left on your mortgage from this figure. The amount thats left over lets is the equity that's available for your IVA.
Once this calculation is completed we'll write to you to confirm the outcome and explain the action you will need to take.