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fixed rate mortgages
chasbrit
Posts: 1 Newbie
Hello, I came to the end of my fixed rate mortgage last year. I have contacted that company to do this again and they said they can offer me this. Is there anywhere else i can go while I'm on a DMP? Can they in fact say no as I have never missed my mortgage payments.
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Excuse my ignorance, but what is a DMP?0
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I see now, Debt Management Program...
Anyway.. is the default mortgage rate you are now on less than the fixed rate you were paying?
The bank of England base rate is "supposedly" not going up for another 3'ish years. Keep that in mind when fixing for a shorter time...0 -
Your current lender may be able to offer you an alternative rate, a "customer retention product" but you are unlikely to be able to remortgage to a new lender while on a DMP.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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How long is the DMP in place for? It sounds like you would be wise to clear your DMP perfectly (and faster if it allows you) to start to rebuild your credit score...Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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