We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

HSBC remortgage & DMP

creditwreck
creditwreck Posts: 24 Forumite
in Mortgages & endowments
Our 5 yr fixed rate is due to finish with HSBC in April 09, I took out a DMP 2 years ago, can anyone advise if we are not moving and need to get a new fixed rate with HSBC will they penalise us for me being on a DMP? Our current rate is 4.75%

Would they make us go on the variable rate? Any advise would be gratefully recieved....thank you.:confused:
:DBeen with CCCS since March 07....MSE gave me a shove to my LB moment!!!:T

Comments

  • creditwreck
    creditwreck Posts: 24 Forumite
    Oh forgot to say have not defaulted on any mortgage payments and my OH's credit rating is clean!
    :DBeen with CCCS since March 07....MSE gave me a shove to my LB moment!!!:T
  • sarkin
    sarkin Posts: 785 Forumite
    If you stay with your current lender there is no credit score, you will be safe
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    HSBC will only do a credit check if you're extending the term or increasing the mortgage amount.
  • creditwreck
    creditwreck Posts: 24 Forumite
    Andy & Sarkin thanks for your replies, I can sleep tonight.....Martin you are an angel for setting this site up.

    Also thanks for the general helpfulnes and unwaveriung support this website offers, I'm not sure how I managed before.

    Can't express how wonderful everyone is:T
    :DBeen with CCCS since March 07....MSE gave me a shove to my LB moment!!!:T
  • pinksparkle_2
    pinksparkle_2 Posts: 110 Forumite
    _Andy_ wrote: »
    HSBC will only do a credit check if you're extending the term or increasing the mortgage amount.

    Hi Andy

    Is it possible to increase your mortgage even on a DMP then???

    I am also on a DMP, DH credit clean and never defaulted or been in arrears on mortgage...

    What do you think???

    Pinksparkle
    xxx
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    pinksparkle wrote: »
    Hi Andy

    Is it possible to increase your mortgage even on a DMP then???

    I am also on a DMP, DH credit clean and never defaulted or been in arrears on mortgage...

    What do you think???

    Pinksparkle
    xxx

    If you're with HSBC - very unlikely.
  • pinksparkle_2
    pinksparkle_2 Posts: 110 Forumite
    _Andy_ wrote: »
    If you're with HSBC - very unlikely.

    No Im with The fantastic NR...But if we were to move mortgages is there any chance we could increase our mortgage?

    Pinksparkle
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    pinksparkle wrote: »
    No Im with The fantastic NR...But if we were to move mortgages is there any chance we could increase our mortgage?

    Pinksparkle

    Would depend on the lender - as you have adverse credit the best bet would be to speak to a decent whole of market broker.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.6K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.6K Work, Benefits & Business
  • 603K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture