DMP Mutual Support Thread (Part 4)

LCT

hi! i had seen the online bit but my internet access is through a games console so i didn't want to get half way through and it not be supported!
L
x

dumb_luck

LCT wrote: »

just got myself sorted and ready to ring cccs...and they are closed!!! gutted now.

Oh no I hate when that happens- still at least your set for the morning- WELL DONE x:beer:

tinkerbell12

Hi all,

As some of you may remember a few days ago I was after some advice about moving house whilst on a DMP to help alleviate some of our debt worries.

WELL - we have found a wonderful house (!!!!!!) which is a good £40,000 cheaper than where we live now and would mean a great saving on our mortgage to help speed up our repayments. Had the house valued as well and was pleasantly surprised at the price they think it is worth (all 3 agents thought the same so I feel it must be realistic.)

SO - rang back our current mortgage advisor having passed the affordability checks and they asked if we wanted to apply (ie go through credit check) and I said YES, kept my fingers crossed and ..... NO. Shouldn't really be shocked but they said we were flatly declined and they could not help us. I then got a but shirty and said well they were currently lending us a good £40,000 more and we have NEVER missed a payment but it doesn't seem to make an ounce of difference. I explained the reason for wanting to downsize and she basically said tough. I was very upset and angry with her attitude - she even made a comment about having so much debt etc etc which I chose to ignore as I was so upset.

I do feel really let down by them and quite angry now. I have since rang CCCS and they have recommended going to Charcoal and get a quote which I intend to do tomorrow. Has anyone had a mortgage arranged through them and were they good? Only downside if we do this is the hefty early repayment charges and higher % rate we are likely to incur so may be swings and roundabouts.

Sorry for the waffle - desperate to vent and can't talk to anyone else but Hubby!!

Any advice/ideas/sympathy(!) appreciated!!!

Yours thoroughly peeeeeddd off!!

windswept

tinkerbell12 wrote: »

Hi all,

As some of you may remember a few days ago I was after some advice about moving house whilst on a DMP to help alleviate some of our debt worries.

WELL - we have found a wonderful house (!!!!!!) which is a good £40,000 cheaper than where we live now and would mean a great saving on our mortgage to help speed up our repayments. Had the house valued as well and was pleasantly surprised at the price they think it is worth (all 3 agents thought the same so I feel it must be realistic.)

SO - rang back our current mortgage advisor having passed the affordability checks and they asked if we wanted to apply (ie go through credit check) and I said YES, kept my fingers crossed and ..... NO. Shouldn't really be shocked but they said we were flatly declined and they could not help us. I then got a but shirty and said well they were currently lending us a good £40,000 more and we have NEVER missed a payment but it doesn't seem to make an ounce of difference. I explained the reason for wanting to downsize and she basically said tough. I was very upset and angry with her attitude - she even made a comment about having so much debt etc etc which I chose to ignore as I was so upset.

I do feel really let down by them and quite angry now. I have since rang CCCS and they have recommended going to Charcoal and get a quote which I intend to do tomorrow. Has anyone had a mortgage arranged through them and were they good? Only downside if we do this is the hefty early repayment charges and higher % rate we are likely to incur so may be swings and roundabouts.

Sorry for the waffle - desperate to vent and can't talk to anyone else but Hubby!!

Any advice/ideas/sympathy(!) appreciated!!!

Yours thoroughly peeeeeddd off!!

I may be naive but that sounds totally bizzare!
You are wanting to buy a cheaper house which will have cheaper payments and be able to pay off your debts faster and they said NO? that's bonkers, surely you would have a large deposit to put down!
Is it feasable for you to just sell up and rent somewhere or perhaps look into shared ownership - you may get a mortgage for 50 - 75% of a property.
We started off with a 25% share of our house 9 years ago and bought it outright (well, got a £70k / 60%) mortgage to buy it:p ) 3 years ago.
I'm almost wishing that we hadn't though as my hubby is currently out of a job and we have enough money for 6 weeks max. It makes me mad that if we had still been renting 75% we would have got HB but get zero as it stands now.:rolleyes:

tinkerbell12

windswept wrote: »

I may be naive but that sounds totally bizzare!
You are wanting to buy a cheaper house which will have cheaper payments and be able to pay off your debts faster and they said NO? that's bonkers, surely you would have a large deposit to put down!
Is it feasable for you to just sell up and rent somewhere or perhaps look into shared ownership - you may get a mortgage for 50 - 75% of a property.
We started off with a 25% share of our house 9 years ago and bought it outright (well, got a £70k / 60%) mortgage to buy it:p ) 3 years ago.
I'm almost wishing that we hadn't though as my hubby is currently out of a job and we have enough money for 6 weeks max. It makes me mad that if we had still been renting 75% we would have got HB but get zero as it stands now.:rolleyes:

I know - bizarre!! I did ask about this but they said they had to credit check due to it being a new property. I do think they are being unfair but what can I do?

bauctu

I've just taken the plunge and signed up for a DMP with CCCS and it feels like such a weight has been lifted, I just wish I hadn't buried my head in the sand for so long. In 4 years and 1 month I should (dependant on my lovely creditors co-operation) be debt free.

Thanks to everyone on this forums advice and good tips, made the decision so much easier. :T

dumb_luck

bauctu wrote: »

I've just taken the plunge and signed up for a DMP with CCCS and it feels like such a weight has been lifted, I just wish I hadn't buried my head in the sand for so long. In 4 years and 1 month I should (dependant on my lovely creditors co-operation) be debt free.

Thanks to everyone on this forums advice and good tips, made the decision so much easier. :T

:T Well done, enjoy the feeling- it great to be doing something about it all isn't it!

Ex-Spendaholic

Tinkerbell, that is absolutely outrageous. :mad: I know nothing about this type of thing but is it not possible to move with the same mortgage that you have? If you have already tried that please ignore me. It just doesn't seem right. I really hope you get things sorted.

bauctu, hello and welcome. Well done on taking your first step. We are all here to help you so just shout if you need anything. :beer:

Jvic28

GhostHunter wrote: »

3 years not having the option available to ditch and switch :eek: Obviously I will try to pay a little extra whenever I can.

Hi GhostHunter,

I just thought I'd let you know that I ditched and switched Eon even though I currently have a debt of over £700 with them. I am now paying them of as part of my DMP. Luckily my boyfriend has moved in and is paying for the new electricity from British Gas.

x

Ex-Spendaholic

Morning

Can anyone advise on my Hellifax Visa interest issue that I mentioned yesterday. :eek: