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Fixed Term period of Mortgage coming to an End
JoJo_Sparkly
Posts: 211 Forumite
Well as the title suggests, the 2 year fixed term period on my Halifax mortgage is coming to an end in February.
I started a DMP in December and am wondering if I will still be able to get a mortage deal - to change providers and hopefully free up some more cash to pay off my debts. Will this contravene the terms of my DMP (not allowed to take out credit during term of the DMP) even if it means having more money available to clear debts? Will I now have such a poor credit rating that lenders won't want to touch me with the preverbial barge pole?
What do you think? Can anyone give advice on what my best course of action should be?
Jojo
I started a DMP in December and am wondering if I will still be able to get a mortage deal - to change providers and hopefully free up some more cash to pay off my debts. Will this contravene the terms of my DMP (not allowed to take out credit during term of the DMP) even if it means having more money available to clear debts? Will I now have such a poor credit rating that lenders won't want to touch me with the preverbial barge pole?
What do you think? Can anyone give advice on what my best course of action should be?
Jojo
0
Comments
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You'd be best to post this on the mortgage board.
Sorry, i dont know how to move it for you.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
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***Fall down seven times,stand up eight*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 19months left.0
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