DMP Mortgage Questions

Emzvic2020

Hi (newbie here so hope I’m writing this in the right place) 

I’m in the process of waiting for my DMP to start after finally calling Step Change at the beginning of the month. It’s been a very anxious time but I’m really hoping we’ve made the right decision. 

It dawned on me this morning that when Step Change write to my creditors to notify them of DMP, one of my creditors is Santander who I also have an existing mortgage with. It’s a Santander credit card with around 3K on it (total debt is around 30K but with different creditors). So, my question is will this affect my existing mortgage? (Never missed a mortgage payment) 

We also have our fixed rate until 2024, will this be an issue when we come to change rates? As in will we need re credit checked? 

Thank you in advance for any replies 

sourcrates

No, it won`t, they are separate financial products, as long as you maintain mortgage payments all will be fine.

Entering debt management will always attract defaults on your credit file, which will make it harder to obtain any kind of credit, when re-mortgaging time comes around, if you stick with your current lender, they won`t do a credit check on you, if you try to go with a new lender, they will.

Rob5342

I'm on a DMP and we changed our mortgage deal with Santander in August, as it was just a deal change they didn't do a credit check and we had no problems at all.

diggingmywayout

just carry on making your normal payments for your mortgage and when your fixed rate deal ends do a product switch with them to the next suitable rate/ fixed deal that way like rob says no credit checks or big hassle to get it organised.