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Can I change my mortgage even with a DMP?
Knotty29
Posts: 27 Forumite
Just thinking ahead really.
OH and I have a together mortgage with Northern Rock. We own £175,550 and are on a fixed deal. I think its either 3 or 5 years but I need to check.
I pay the mortgage and pay £900 a month. This is 50% of my income. We have an interest only mortgage for the moment so that we can pay off other debts.
Would we be able to swap our mortgage in order to reduce the payments even though my credit rating is bad and I'm on a DMP?
I know I should phone up NR and ask for a review but am too scared in case they say no.
OH and I have a together mortgage with Northern Rock. We own £175,550 and are on a fixed deal. I think its either 3 or 5 years but I need to check.
I pay the mortgage and pay £900 a month. This is 50% of my income. We have an interest only mortgage for the moment so that we can pay off other debts.
Would we be able to swap our mortgage in order to reduce the payments even though my credit rating is bad and I'm on a DMP?
I know I should phone up NR and ask for a review but am too scared in case they say no.
0
Comments
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Hi
Just bumping this up a bit as I am also curious. My deal has now ended and I'm on SVR which has added loads on. My mortgage lender is also one of my biggest creditors so I don't even want to ask them but if I go elsewhere they will do a credit check and also does this count as new borrowing which I am not allowd on my DMP (even though it would be for the same amount and might actually mean I could give my creditors more.
CheersOfficial DMP Mutual Support Club Member No. 730
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