Mortgages On A DMP

ticmike

Just wondered if anyone had any experiences with mortgages whilst on DMP?

Sadly a few weeks ago my gran passed away and i'm looking into buying her house from her (or rather the inheritors, my mum and 2 Aunties).

I already have a mortgage with the bank of scotland (with good record, never missed a payment) but im looking to borrow a bit more to purchase my grans house.
I should make a decent profit from the sale of mine (15-25k depending on value) but the house i want needs modernizing so i'd need that money for that.

My main question is, does anyone have any experience on getting money on an existing mortgage whilst on a DMP??

antrobus

I know this might be a stupid question, but if you can afford to meet the higher mortgage repayments that would arise from borrowing a "bit more to purchase my grans house", shouldn't that money go towards repaying your existing creditors in the DMP first?

ticmike

antrobus wrote: »

I know this might be a stupid question, but if you can afford to meet the higher mortgage repayments that would arise from borrowing a "bit more to purchase my grans house", shouldn't that money go towards repaying your existing creditors in the DMP first?

Firstly, why even waste your time and mine, with an answer that is nothing to do with the question asked!

Secondly, you know absolutely nothing about me or my circumstances, you dont know that the street i live in has been taken over by council renters (scum of the earth) and that we have to put up with swearing, drinking, drugs etc.. so if i have the chance to keep a family home in the family and get my family out of the hell hole we have to live in then errrr... yes i will, weather you think i should or not.

So if you want to start judging people then go find out the facts first and go do it it some place else.

GOOD DAY!

kingstreet

You will not get another mortgage while on a DMP.

ACG

ticmike wrote: »

Firstly, why even waste your time and mine, with an answer that is nothing to do with the question asked!

Secondly, you know absolutely nothing about me or my circumstances, you dont know that the street i live in has been taken over by council renters (scum of the earth) and that we have to put up with swearing, drinking, drugs etc.. so if i have the chance to keep a family home in the family and get my family out of the hell hole we have to live in then errrr... yes i will, weather you think i should or not.

So if you want to start judging people then go find out the facts first and go do it it some place else.

GOOD DAY!

There could be options depending on a few other things, but with your attitude to the first reply (Which is a very reasonable question as it will come up in any mortgage application - i would love to see how far you get answering an underwriter like that) i really cant be bothered.

fleitner

There might be implications with the DMP as well, but considering your attitude and your obvious unwillingness to hear anything about DMP, I'll join ACG and won't go into details.

Have a good Sunday.