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Mortgage and Debt Management Plan
topazstar
Posts: 29 Forumite
We have been offered a mortgage and upon completion should have enough funds left over to make full & final settlement offers against my DMP which is nearly 6 yrs old. The mortgage company have made this a condition of the mortgage. I will handle the funds and work with my DMP management company to make offers.
Question: If all of my offers are not accepted and I am not able to totally clear the DMP, can this retrospectively have an effect upon my mortgage?
Question: If all of my offers are not accepted and I am not able to totally clear the DMP, can this retrospectively have an effect upon my mortgage?
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Comments
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I doubt it. Once you've completed the loan you own the property. They may ask for proof its been paid off but perhaps you should ask the mortgage company directly what would happen if you couldn't pay it off because the DMP company wouldn't agree to it.I am a Mortgage Adviser
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.0
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