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Remortgaging with DMP running
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Elloyd
Posts: 48 Forumite
Hi
I was just wondering if any of you know of any lender who would let us remortgage when we have a DMP running. We would also need a 90% ltv, this would clear all our debts having a 90%, I dont think any lender would let us just remortgage without clearing debts too.
I was just wondering if any of you know of any lender who would let us remortgage when we have a DMP running. We would also need a 90% ltv, this would clear all our debts having a 90%, I dont think any lender would let us just remortgage without clearing debts too.
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you need to see a whole of market broker.
You haven't exactly hedged your bets well, no offence, so you need the help of an insider specialist.Sealed pot challange no: 3390 -
No offence taken. Just want to get finances all sorted, and get back on track after a period of time when my husband was out of work, and stacking up debts to just get by. He is now back in work, and we want to get ourselves back on track and in control of everything.0
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I would love to be positive here (and usually am) but I really do not fancy your chances..
Is the DMP in joint names and have both of your credit files been affected?
90% LTV on what sort of valuation, with damaged credit files and being on a DMP is going to be hard work, if not impossible.
Now working again, how long till you could feasibly nail the remaining debt on the DMP?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yes the plan is in joint names.. Realistically, we are looking at 5 years to clear the debt. Maybe slightly shorter.0
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Yes the plan is in joint names.. Realistically, we are looking at 5 years to clear the debt. Maybe slightly shorter.
Moving debt from unsecured to secured does not "clear" your debts it just moves it. You still owe it.:footie:Regular savers earn 6% interest (HSBC, First Direct, M&S)
Loans cost 2.9% per year (Nationwide) = FREE money.
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