moving and dmp

jasperconran

Hi all,

Not sure if im posting in the right place, apologies if not.

Basically been on a dmp with CCCS last year, self managing this year now since January.

Have got mortgage arrears that we are paying off, should be up to date by june. anyway, my question and point of this post is this:-

Due our large mortgage, OH is now totally fed up with paying so much money so wants to move next year sometime.

Can we do this on a dmp, self managed or otherwise?? our credit ratings are obviously pants now, so I am assuming that we would have no choice but to stay with our current mortgage provider?

any advice would be great, thanks

Tixy

You can in theory do it.

But even your own mortgage lender won't often let you port your mortgage to a new house when your credit files are poor. They sometimes even won't if you would actually end up with a smaller mortgage and or lower ltv if people are downsizing.

Given that you have had mortgage arrears this also might well cause an issue with them (even once they are paid off).

You could try speaking to them and to an independant mortgage broker for some advice on subprime mortgages.

Have you considered selling up totally and renting for a few years? - a big step I know and I expect you've discussed it already.

jasperconran

hiya tixy thanks for replying.


No renting is something my OH wont even consider, not an option im afraid