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| An Individual Voluntary
Arrangement, or IVA, is an alternative to bankruptcy in which the debtor arranges
a formal agreement with his creditors to pay off a percentage of his debt over
a set period of time, usually around 5 years. |
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| An IVA
is often seen as advantageous to bankruptcy as it has less of an adverse effect
on the person's credit history and their home remains relatively untouched.
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| However
if you have arranged an Individual Voluntary Arrangement, you will probably be
aware that although an IVA makes it much easier for you to keep your home, it
is standard for many IVAs to include a clause that stipulates that after a set
number of years you will be required to have your home valued and to give your
creditors a certain percentage of the equity that has been built up as a final
payment. |
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At MORTGAGES 4 U LTD we are able to help those who: |
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Are currently in a IVA that is running satisfactorily and are looking to remortgage
to make the final payment to their creditors
- Have
completed their IVA less than 1 year ago and are looking to purchase a property
or remortgage their home
- Have
completed their IVA between 1 and 3 years ago and are looking to purchase a property
or remortgage
- And
those who have completed their IVA over 3 years ago and are looking to purchase
or remortgage.
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| Generally speaking
the longer you have completed your IVA, the better the deals which you will qualify
for and the less deposit will be required of you if you are looking to purchase.
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| If
you think that MORTGAGES 4 U LTD may be able to help you secure a mortgage then
please contact us to speak to one of our experienced mortgage specialists to get
your free no obligation quote. |
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