Credit card default/ mortgage

Cpfc1234

Hi there, I'm currently going to look to get in a dmp. I have halifax mortgage and Halifax cc. Would default on cc affect my mortgage. Many thanks in advance

sourcrates

No, not as long as the mortgage was still repaid on time, they are separate accounts altogether.

Bear in mind though, a lender can sell your debt, including your mortgage, at any time of their choosing.

I have never heard of this happening much with a mortgage, but Halifax may decide they no longer want your business, and sell your mortgage account as a going concern, to someone else.

It won`t affect you in any way, if they do, its just a possibility to look out for.

Most folk manage a DMP alongside a mortgage, with no problems at all.

GeordieGeorge

As Sourcrates says, your mortgage deal is already done, nothing that happens with anyone else will change the terms.

You do need to bear in mind what happens if and when you need to remortgage; you may find that with a default that your choices become limited and you need to pay a higher rate.

Sncjw

Maybe you could post your soa see what can be be done before jumping into a dmp.