Mortgage renewal with bad credit rating

wave5050

I am currently having some financial difficulties and I'm considering entering into a dmp to help the situation. However, my fixed term mortgage is up for renewal in 2 yrs time and I'm worried that if I'm in a dmp at that time I wont be able to renew my mortgage as my credit rating will then be bad. Do mortgage companies check credit ratings for renewals or would it just be checked if I tried to move to a different company? I have never missed a mortgage payment, and I dont anticipate having any problems continuing to make their payments over the next 2 years? Any advice would be gratefully received.

m00m00

they would drop you onto their SVR when the rate ends without further credit checking.
The issue would come if you were to go for another fixed deal, where your current lender may credit check you. Any other lender certainly would.

_Andy_

If you're staying with your current provider and not borrowing any more, there will not be any checks at all.
If you want to change mortgage provider or borrow more, there will be.

Thrugelmir

Being on a DMP your only option really is to select another product from your existing lender or drop onto their SVR.

You will not be credit checked by your lender.

wave5050

Thanks very much for your replies - thats reassuring - much appreciated.

dunstonh

Mortgages do not renew. All that happens is your deal ends and you go onto the rate type agreed when you bought the last deal. You stick with that or you buy a new deal with the same lender.