Remortage on DMP

Dunc123

We are currently on DMP and have our mortgage with Santander we have a fixed rate of over 6% which expires in 2013. We could save over £500!! a month if we can change to a tracker mortgage for 2 years. We have never missed a payment and I'm asking whether anyone knows if they'll carry out a credit check as we would be changing from a fixed to a tracker.

holly_hobby

Credit/status checks aren't performed when switching between products with the same lender.

Of course if you moved lender to secure a more attractive deal your adverse credit history would pose a problem ...

Hope this helps

Holly

Thrugelmir

There would be an ERC payable to exit the fixed product. How would you fund this?

Although exiting the fixed product may seem attractive. Interest rates will rise in the future. When, who knows, the only certainty is they will.