Mortgage advice whilst on DMP

..ukeuro

I am currently on a DMP with Payplan which, all being well, I will have paid off by October / November 2014. I've been on it since January 2009.

In April 2014, my fixed rate ends with my mortgage and I will go onto a variable rate. My mortgage is with Halifax.

The outstanding balance on my house if £114,000 approx, and my house is worth £130,000. I have never defaulted on my mortgage payments and I do not have any CCJ's.

Please can anyone advise how I should address my mortgage? Would another mortgage lender, with a lower mortgage APR consider an application from me, or would I need to stay with Halifax?

Should I go onto another fixed rate immediately in April, or should I wait until my DMP is completed?

Many thanks!! I look forward to your replies.

HappyMJ

You probably would be better off staying with Halifax on the SVR until your credit rating is clean. If you defaulted Jan 2009 then the defaults won't be clear until Jan 2015. I would think a year on the SVR would be OK.

_Andy_

No other highstreet lender is going to touch you.
Stay with your current lender, either on SVR or an alternative product if you wish.

Thrugelmir

The DMP will impact your ability to obtain finance for a period of time after it is settled. So in the medium term you need to base your decision on what the Halifax offers you. The Halifax will not credit check you as an existing customer.

..ukeuro

Thank you so much for all of your replies. Much appreciated!