On a DMP and fixed rate on Mortgage is up what can I do?????

THE_LUGGAGE

Hi.

I have been on a DMP with payplan for the past 2 years. My fixed rate mortgage is now up and I am unsure what options I have.

Can I get another fixed deal or will I have to stay on the standard rate?

Also if I speak to my provider can they refuse my mortgage all together and would force me to sell or are they forced to keep me on the standard rate?

Thanks in advance.

The Luggage

Tixy

Hi

You will likely find it hard to move to a different lender.

Your own lender may well be willing to offer you a new fixed deal. They often are as it doesn't increase their risk.

Assuming you are up to date with the mortgage they cannot force you to sell/refuse to continue with your existing mortgage, worst case would be staying on the standard rate.

THE_LUGGAGE

Thanks,

I am not looking to change anything, I want to keep the same provider and term that is left, my thoughts are that I defaulted on a loan and credit card with them (paying through payplan though they sold the debt on).

I have never missed a mortgage payment so up to date with that.

owen_money

I was on a DMP and stayed with the same lender but moved onto another fixed deal twice when on the DMP with no problem. For me at least they didnt ask any financial questions, just gave a list of deals and asked which one i wanted. When i decided they sent a form to sign and that was it. Just give them a call.