Fixed Term period of Mortgage coming to an End

JoJo_Sparkly

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

UK007BullDog

Only the adverse lenders would touch if at all and their interest rates are very high for customers with your credit history, which means you would pay a lot more than your present lenders SVR.

Best to negotiate a new fixed deal with present lender. This will save you survey and solicitor fees. Will assist you in budgeting as well. As an existing customer they might not even credit check you.

JoJo_Sparkly

mmm thought that might be the case - Thank you for your post.