The Mortgage Works - Portability

itsnowtime

Hi all..

Just wondered if anyone can offer any words of wisdom / experience.

Me and OH looking to sell 2 houses and move into 1.

I have a self-cert mortgage with TMW - held for 3 years - never missed a payment.

I went into a DMP through CCCS in 2007 - due to my business declining and I was struggling to keep up. I've been in the DMP for 2 years now and I've never missed a payment, however this has generated defaults.

I have a £128,000 mortgage and I'm currently on BR + 1.99%

We are likely to require a mortgage of around £150,000 which will be 75% or less LTV.

Now for new customers I understand that TMW are only accepting 65% LTV.

Am I right in thinking that if we were wanting to port my current rate it would be treat as a new application and therefore we'd need at least 65% LTV?

And also...What is the likelyhood of TMW accepting my DMP -due to being an existing customer?

Thanks in advance..

unite79

Correct, they will treat you as a new customer, therefore you will need to hit new applicants criteria.
Highly unlikely thay will accept DMP.