Tuesday, January 8, 2008
IPs and Banks kiss and make up
A truce has been called between leading lenders and providers of individual voluntary arrangements (IVAs) that should mark an end to the bitter acrimony that plagued Insolvency Practitioners for much of last year Around 1.4m homes face mortgage repayment increases of up to £200 a month when fixed-rate deals taken out two years ago come to an end. A vast majority of people in debt will get by with a bit of time-honoured belt-tightening, but for some it is already too late. So, having taken the pain of the new fee structure, IPs will now be rubbing their hands.