mortgage and poor credit

slce1066_2

I lost my job 13 years ago due to a serious back problem I have since had seven lots of surgery and more due this year, as a result my income has fallen by 70% and as a result I have had to register with a debt management company so I now have DMP,
despite this I have never missed a mortgage payment, I now have a mortgage for £89.000 and a property worth £200.000 my current rate is 3.42 variable but I would like to re-mortgage but have been told that I would not get a re-mortgage even with non high street banks. My credit rating is still poor however I thought that some lenders may be interested due to the equity, does anyone have any suggestions.

Leon_W

I'm afraid there probably wont be any options for you. If it's any consolation the 3.42 variable is pretty good anyway.

kingstreet

Ask your current lender if it has any customer retention products from which you can choose?

I don't know a lender with a standard variable rate of 3.42%, so what's the story there?

Leon_W

I was guessing a base plus rather than a SVR.


I'm also pondering, if there are savings to be made, shouldn't these go back to the treasury rather than end up in the OP's pocket.


There, I've said it.

Dave_Ham

When did you enter the Debt Management Plan and approximately how much is left?