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Remortgage with a DMP!?i Is this possible
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Cosmic-bee
Posts: 15 Forumite

Hi
Certainly my finances are not in good order, however I have stuck to a DMP for 18 months, owing £25k anj just paying £61pm
I have an interest only mortgage at 4.64% variable with landmark mortgages owing £38517, due in 12 years
I have been in reciept of mortgage interest benefit which changes to a loan in April. They do not pay all of the interest, dwp pay £93 I pay £70 pmonth.
I am therefore just paying the interest and not the debt.
Property value £190,000
My partner is willing to pay some money towards the mortgage, (we do not live together).
Is it possible in my situation to remortgage, and use the capital from. property to make an arrangment to clear DMP. Or is this a no go due to having a DMP.
My personal circumstances, long term sick and disabled and uncurable disease, and on disability benefits.
Or asking mortgage co to change interest rate on mortgage or fix it wpuld this open a can of worms....they are unaware of DMP
Cash flo is v tight I also pay service charges for flat @£91 pm.
Suggestions greatly appreciated and Thanks
Certainly my finances are not in good order, however I have stuck to a DMP for 18 months, owing £25k anj just paying £61pm
I have an interest only mortgage at 4.64% variable with landmark mortgages owing £38517, due in 12 years
I have been in reciept of mortgage interest benefit which changes to a loan in April. They do not pay all of the interest, dwp pay £93 I pay £70 pmonth.
I am therefore just paying the interest and not the debt.
Property value £190,000
My partner is willing to pay some money towards the mortgage, (we do not live together).
Is it possible in my situation to remortgage, and use the capital from. property to make an arrangment to clear DMP. Or is this a no go due to having a DMP.
My personal circumstances, long term sick and disabled and uncurable disease, and on disability benefits.
Or asking mortgage co to change interest rate on mortgage or fix it wpuld this open a can of worms....they are unaware of DMP
Cash flo is v tight I also pay service charges for flat @£91 pm.
Suggestions greatly appreciated and Thanks
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