DMP and mortgage

anyhelptaken

i was wondering if anybody out there was on a DMP and how it affected renewing mortages.

We are on a teo year fixed rate which is not up until Oct 2010, just wondered when we go to remnew the deal how will it be affected, we are currently with Cheltenhan Gloucester.

Will I ahve to get another mortgage lender, wioll the rate of interestet go up if i am on a DMP.

Just wondered what the boards experience is.

10past6

If you stay with you current lender, it won't affect the rate they offer, as they don't do a credit check.

If you change mortgage lenders, you may have difficulty as they will do a credit check, and any defaults etc, etc, will show up.

anyhelptaken

I was just wondering as the the mortgage is between my sister and me, i ahve yet to break the news to her and my mum that i am in debt and that a DMP has been suggested bu CCCS as the bst way forward, even if it is going to take 10 years to pay off.

I wanted as much info as i could get from other people before i broke the news and knowing that the rate on the mortgage cannot hopefully get any worse is a help.

churchrat

hi
we are with c&g as well and are on the standard rate, and have been for sometime because they would not let us change products after we started out dmp. It has worked ok for us (lots of interest drops!) but I'm sure that it not ok for others.
However, we have been doing this for a long time now, and its been a while since we asked.
I think the best thing to do might be to phone and ask as a general querey--don't give them any info they don't need to know but ask what checks etc they make before giving exsisting customers a new deal.
good luck with it all

anyhelptaken

thanks for that information, we are on a fixed rate, whichis quite high and were hoping in a couple of years that it would come down, CCCs assured me that it should ahve no impact but I wanted the veiws of actual people that were on DMP and what they ahd found actually happend.