morgage coming to and end but in a das.

redbud

What advice would you give.our fixed deal comes to an end however we are four years into a das with everything paid on time.four years to go.we have never missed a morgage payment.do we need to stick with the current morgage provider due to the das, would another lender offer a better deal?
Thanks in advance for any advice:

Thrugelmir

What's a DAS?

kingstreet

Presumably some kind of debt management plan.

Your remortgage options will probably be limited, or none, so ask your current lender what customer retention products it has for you to consider.

If you'd like to post back and expand on the very scant information you've provided in your opening post, you may get a more detailed and informative response.

redbud

Thanks for reply.our situation was purely too much debt cards and loans.the citizens advice were great as per mse advice and in four years we will be debt free.what an experience never again will we do that.as stated our fixed rate morgage ends soon so do we need to stay with them due to the das,if so will the rate offered be higher?

kingstreet

Property value?

Current mortgage amount?

Incomes?

Adverse credit visible on all three credit files? Anything visible on one, two or all three (Experian, Equifax, Call Credit) versions?

Defaults, judgments? If so, value, date of registration, date of satisfaction?

redbud

Income 75,000.
Value 210,00
Morgage 175,000
No county judgements
Been in das for four years all paid to date no new credit.defaults four years ago adverse credit on two.
Morgage 21 years 7 years in

Thrugelmir

Is your mortgage on an interest only basis?

kingstreet

At 83% loan to value, I suspect your remortgage options will be limited while your payment plan is still in existence. As I mentioned in post #3, your best bet would be to seek out your current lender's customer retention products.

Once it has ended, hopefully this will correspond with a reduction in the amount of your current mortgage and growth in the property value, reducing your loan to value.

At that time, your remortgage options will be extended.

sarah1111

I am in a DAS and just renewed my mortgage. To be honest I wasn't sure we would even be offered another fixed rate, thought I would be riding the variable rate for the forseable future. Thankfully no, they offered me a new fixed rate so I bit their hand off. The rate was much better than what I am on now too which was a bonus. I too have kept up repayments, but I don't think if I had to go down the route of starting from scratch I would have gotten one at all...Good Luck.x

dunstonh

DAS appears to be the Scottish equivalent of a DMP in England.

It is important to note that mortgages to not come to and end when the deal runs out and you cannot renew a mortgage as there is no renewal point. Whilst a new lender is not likely to be interested in someone on a DAS, the existing lender already has the debt and as long as there is not a further advance involved, they are not going to have any issues offering a new deal (Assuming they are offering new deals to existing borrowers)