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Step by Step DMP

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  • Suseka97
    Suseka97 Posts: 1,571 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    I'm glad to be of help :)

    I'm curious as to why you feel the need to tell your mortgage company that you are entering into a DMP. It's an 'informal arrangement' so it's no-one business but yours.

    So if you are happy to simply move onto their standard variable rate - it'll just happen at the end of your fixed term. There's nothing more to it.
  • fatbelly
    fatbelly Posts: 22,979 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    I presume the OP has another debt to HSBC, possibly an unsecured loan. Shouldn't cause a problem.

    Just make sure your banking arrangements are with another bank, to whom you have no debt
  • Poor_Single_lady
    Poor_Single_lady Posts: 1,527 Forumite
    1,000 Posts Combo Breaker
    Yes I have my overdraft with HSBC.

    Thank you for all the help. Very much appreciated.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
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