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Can we get another mortgage ?
Kerryjp
Posts: 9 Forumite
We are currently on a debt management plan with Stepchange nd owe around £17,000. We are estimated the pay off the debt by 2029 :eek: we have always paid our agreed amount. We have equity in our property of approx. £41,000 and I was wondered if we could sell to repay our debts and then obtain another mortgage. I'm worried that because of our credit history we will end up paying an inflated mortgage. Would welcome any comments please.
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Comments
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You will end up paying a higher rate than if you had not had a DMP.
Your choice of lenders will be very limited until the DMP has been cleared and is a couple of years old.I am a Mortgage AdviserYou 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.0
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