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Has anyone had any experience of a Firstplus mortgage...
houseiseverything
Posts: 74 Forumite
Someone said to me that they remortgage for repaying a debt. Their website isn't very clear, so wondered if anyone had done it. We are in the process of starting a DMP with Payplan, but I am scared as this isn't my debt but my partners, yet it seems I will be part of the DMP myself. I would rather borrow the money to pay it off if I can. Thanks for any help.
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In my personal experience consolidation loans (re-mortgage or otherwise) can be extremely dangerous and don't always work, especially if the underlying causes of the debt have not been addressed.
The other thing to remember is that this will cost you more in the long run if the mortgage runs it's full course.Proud to have dealt with my debts, became debt free on 03/11/2011. Repaid £54,723.41 LBM May 2006.
Debt Free Roll Of Honour #504
Mortgage Free from October 20190 -
I agree with Mort over the dangers of consolidation but am also pretty sure that First Plus have closed down or at least are not offering new loans. Can anyone confirm this?LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero:staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day ThreadsMortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads"Debt is normal. Be weird!" Dave RamseyProud to have dealt with our debt
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