DMP and Mortgage change in 2019

boomintheroom

First post go easy!
I’m considering a DMP but concerned that when I come to change my mortgage in Oct 2019 (for a better deal) , I will encounter diffculty doing this because of my DMP in place. My current credit score is good. Any advice most appreciated. Cheers

Thrugelmir

Where your credit score is currently good. The fact that you are considering entering a DMP suggests that your finances may not stand up to close scrutiny, i.e. affordability criteria. You'll most likely be limited to whatever your current lender offers you. In terms of a new product.

David_White

It is common when you enter a DMP for all accounts within it to default as you're no longer paying the original agreed amount each month.

That will naturally impact on your options when the time comes to remortgage.

In no way am I advising you do this as I don't know anything of your situation but if it's getting that bad have you considered remortgaging now to consolidate the debts rather than go into a DMP?