Remortgaging options - are there any for us?

Spanner27_2

We have a mortgage (consisting of 4 products, now all bog standard SVR) of £128k with NatWest. It's hard to establish the value of our home, but most sites suggest it's in the region of £135 - £150k.

We have a few dings on our credit record (we're in a DMP, with c. £8k loan & credit card being paid off at a rate of £400 per month) but have never missed a mortgage payment. No ccjs.

Our circumstances are about to change, and we want to check that we've got the best deal we can get and ideally get into a product that will allow us to take a short payment break, probably next year.

Some quick reading suggests we don't have a hope in hell - am I reading that right? I don't want to waste our or anyone else's time if our only option is to sit tight!

Thanks in advance!

Thrugelmir

No chance of remortgaging given you are in a DMP. So you are restricted to what products the NatWest are offering.

Unlikely that you'll be granted a payment holiday either.

handytips

The DMP will ruin your chances of a Remortgage for years. Contact your existing lender and see if they will do a deal for you.

Spanner27_2

Thank you for the replies! That's what I thought, I just wanted to check with those who know.

Wh05apk

..................and by the way, a DMP could not be classed as a "ding on your credit record"

Spanner27_2

Sorry, I didn't mean to mislead. Thanks for the correction.

The things is, we always think it's a heinous black mark that will never be erased and we'll never be able to hold our heads up again... then we're surprised when creditors act like there's nothing wrong. In fact, the majority of our creditors wouldn't reduce interest because they said "there's nothing wrong with the account," and they couldn't hand it over to the appropriate department because of this. In spite of regular communications from us and CCCS re DMP and regular CCCS payments.

The whole situation's been bizarre from start to finish.

In any case, we've reduced £30k of debt with 7 creditors to £8k of debt with 2, and will never make the same stupid mistakes again. We messed up spectacularly (there were extenuating circumstances - but aren't there always?) and we're ashamed of that, but we're proud of how we're managing now.

And I promise I won't call a DMP a 'ding' again. ;-)

Thanks again for your time.