Help Needed please

Rem0rtg4ge

Help Needed please

ACG

Will NatWest give us a deal if on a DMP? - Yes, providing you keep up with repayments. It wont be market leading rates, but it will be lower than SVR.
Will the LTV % help us? - Probably not as it is unlikely to take into account the extension. But any normal value iincreases will improve the LTV and potentially the products that are available. 
How are we going to borrow the full amount in one payment if on a DMP? - You probably wont want to as rates will be high (probably 10-13% on a secured loan or 4-5 % for the full amount on a mortgage), realistically is not going to be cheaper than it is now. Wait until you are in a better financial position than you might want to take out a secured loan to pay off the DMP with a view to looking at the bigger picture, but it wont help much immediately. 
We would like to keep the DMP separate and just combine the two mortgages. - It will be more expensive than you are paying now as your main mortgage will be on a higher rate than you are paying to natwest.
Has anyone had any success of doing this?  - Yes. But I think from what you have said it is going to be cheaper to just stick with natwest and keep the secured loan. 

Thrugelmir

Rem0rtg4ge said:

DMP £56k still paying £250 per month.

If that's all you can afford to repay. Is remortgaging a realistic objective at the current time? As it's going to take you 18 years to settle and that's without any interest charged. 

Rem0rtg4ge

Thrugelmir said:

Rem0rtg4ge said:

DMP £56k still paying £250 per month.

If that's all you can afford to repay. Is remortgaging a realistic objective at the current time? As it's going to take you 18 years to settle and that's without any interest charged. 

We could afford £600 per month but I was advised to lower payments as remortgaging would be easier if payment was lower.