Debt managemnt plan and mortgages

angelheart

Hi

I am really worried about the credit crunch and not been able to get a new mortgage deal will I am still on a DMP with the CCCS.
Has any one had this problem!

Sea78

I am coming up to my mortgage renewal and will be shopping round for a new mortgage deal in a few months. i am concerned about it, but also feel that there will be something not too horrendous, as the mortgage has always been paid, and the fact that I'm on a DMP and am dealing with the debt also helps a little. So in essence, I don't know if we should be really really worried!!

Ninnins

I'm in a similar situation, will start looking for a new deal in the summer as my fixed rate interest only expires in December 08. I hope there are more products out there, am a bit worried as my mortgage is so high.

rayday2

I was on a sub prime deal and a DMP I was paying 9% + interest on mortgage and 10.5% on a secured loan. I remortgaged hassle free with Chelsea Building Society on a rate of 6.34% and if I pay for two years without missing a payment I can remortgage again and be treated as a "normal" customer with no credit details against me.

This may sound like a high percentage and it could be you are better off staying with your current company but as you can see much better than the sub prime market offerings. But you don't know till you look round!

angelheart

thanks everyone.

I'm with Northern Rock, so will ned to look around. Hope I get a decent deal, last time i re-mortgaged i increased payments slightly as i was on a tracker mortgage and the mortgage was goig up every few months, so i thought if i increase slightly, its going to go up any way, and it knocked years of the mortgage. Hope i can continue to do this and get the mortgage paid of in the next ten years. Hopefully the DMP will be paid of in two and a bit years.

jmhgibson123

i think when you are on a dmp you have to go with a specialist lender and they have higher apr and when i went to try and change my mortgage they wouldnt accept me without putting most of my unsecured debt onto the mortgage-the only problem with that is as it would make my mortgage loan very high and the chances of a normal bank with normal rates letting a single gal on minimum wage have a mortgage for so much more is zilch. be careful about switching mortgage to a specialist i have stayed where i am on a normal rate but it worked out better than a specialist