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Moving House

joolzhaines42
joolzhaines42 Posts: 1 Newbie
in Mortgages & endowments
Hi,

I am trying to downside my current house to pay off a Debit Management Agreement with StepChange, I am currently in the process of doing this with my current Mortgage company but have not received a decision yet.

I have had a Mortgage for 15 years and not missed a payment and took out the StepChange before things may have got worse as froze the interest on all debits.

I currently have about 1 year of fixed rate left what happens if they say no?

Is there any advice anyone can give?

Comments

  • MovingForwards
    MovingForwards Posts: 17,165 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    What type of debt management agreement are you in?

    Are you looking to remortgage and take out equity from your house to pay your debts off in full?

    How much debt is outstanding?

    How much is your home worth if it was sold?

    How much outstanding mortgage do you have?

    What is your income? Any partner? What's their income? Any kids? If so, do you pay childcare/nursery fees?

    Without more information no-one is able to provide any helpful information.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    If you downsize your LTV will go up which may effect porting current mortgage.
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