We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Moving house whilst on a DMP
macca5000
Posts: 37 Forumite
I've been on a DMP with the CCCS for just over a year now and I'm finally on the road to recovery after 10 years of financial lunacy.
I was lucky enough to secure a mortgage with the Halifax just before I started the plan and have never missed a payment on either my mortgage or the plan since they started.
My partner and I are considering moving house to another area, potentially to a house with a lower value but more space.
Does anyone know how being on a DMP will effect the process? I will not be looking to change mortgage providers, rather change the house that my mortgage covers.
Will they do a credit check if that is the case?
I was lucky enough to secure a mortgage with the Halifax just before I started the plan and have never missed a payment on either my mortgage or the plan since they started.
My partner and I are considering moving house to another area, potentially to a house with a lower value but more space.
Does anyone know how being on a DMP will effect the process? I will not be looking to change mortgage providers, rather change the house that my mortgage covers.
Will they do a credit check if that is the case?
0
Comments
-
any mortgage is secured on the house so if u sold one house the mortgage would have to be fully paid off, and to buy another the whole process would need to start all over again ie you would need to submit a new mortgage application.... so yes I would assume they would do a credit check etc .On the road to financial freedom.... one MSE penny at a time....:T0
-
Speak to your mortgage provider and find out - I believe our mortgage is portable to another property. They might agree, particularly if you reduce your debt or payment as a result.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards