DMP Mutual Support Thread (Part 4)

rayday2

pinksparkle wrote: »

Hi Rayday,

I know we have spoke about this before, Do you think i am going to be able to remortgage when my deal runs out in 3 years time???

Do you think the rate is going to be as much as double the normal rate at that time??

Pinksparkle
x

I am really sorry I would love to put your mind at rest but I would need a crystal ball. An average normal borrower with no bad credit cannot safely say he is going to get a good deal in 3 years time. These are very uncertain times it could be the product you on is better choice than remortgaging but its goign to take you 3 years to know all this!

rayday2

maz - did you got your offer in writing with the keyfacts and then they went back on it?

Well done on everything btw you are doing so well, a true inspiration.

pinksparkle_2

rayday2 wrote: »

I am really sorry I would love to put your mind at rest but I would need a crystal ball. An average normal borrower with no bad credit cannot safely say he is going to get a good deal in 3 years time. These are very uncertain times it could be the product you on is better choice than remortgaging but its goign to take you 3 years to know all this!

Hi Rayday,

What do you mean about ' The product i am on is a better choice etc...

Sorry i am fretting, i cant be like this for the next 3 years...!!!

Pinksparkle
x

ANY_CHANCE

my mortgage at the moment is 1121.00 in sept 2009 it will change to 1400. We may not be able to get a different mortgage as i am now a student but i will either have to sell or find the extra money that we dont have.

For now i am trying not to worry but i am aware of the situation

rayday2

pinksparkle wrote: »

Hi Rayday,

What do you mean about ' The product i am on is a better choice etc...

Sorry i am fretting, i cant be like this for the next 3 years...!!!

Pinksparkle
x

Say for example you end up on an interest rate of 6% (with your current mortgage provider) then you would have to see what mortgages you get offered it could be that they are more than that, then you would be better staying with who you are with than changing to another provider.

Its all a bit if and when stuff, so far in the future we can't say. To be honest the only reason you are panicking is because your partner is in the dark. If you told him about things then your panic would go it is very hard to keep secrets from people and actually more stressful in the long term than fronting it and telling him. But you must be aware of that.

I really hope you get some peace of mind in all this I do feel for you.

rayday2

ANY_CHANCE wrote: »

my mortgage at the moment is 1121.00 in sept 2009 it will change to 1400. We may not be able to get a different mortgage as i am now a student but i will either have to sell or find the extra money that we dont have.

For now i am trying not to worry but i am aware of the situation

That is the whole point of a DMP you would adjust your DMP if worse comes to the worse. So you are right not to worry at the moment.

lmw1977

For now I'm like Any Chance - that is to say our fixed deal runs out October next year but why worry about that now - Lord knows that I'll worry about it when it's on me; I'm hoping that I can show I am trying to do something by having my DMP - however I know that creditors tend to look at cold hard facts when the economy around them is downturned so all I can say is "fingers crossed".

pinksparkle I'm afraid I have to agree with rayday; if you told your partner now then I'm guessing a lot of your anxiety will dissipate. You can then both approach the remortgage together. As opposed to getting there and him ending up wondering why you can't get a good high street deal jointly - and possibly going to the trouble of contacting experian et al to find your credit history to see if there any errors/omissions to find the evidence of your DMP

I don't want you to feel I keep chirruping on about it - it is after all your choice and either way we'll be around to help you out where we can; but your original question regarding mortgage deals is a question no-one can answer not even those people with a perfect credit history.

I really do feel for you - I have just come away from 3 nights of no/interrupted sleep due to the pressures of the DMP process but before setting it up and telling my wife it was 5-7 days a week insomnia i.e. sleepus interruptus...to give it the latin name.

maz1964

Hiya rayday, yes been a long time since we caught up, great to be back

yes im sending off all complaint to the fos ref mortgage, we were confirmed on the telephone at the invite of the mortgage company to call them to offer us a better deal than the svr after the tracker came to an end in feb - discussed on the telephone ref the arrears, accepted by them, included in the paperwork and sent back all the information signed and then they decided to not offer it us due to the arrears!!! i basically got some compo but i think they realised it was mis sold to me and tried to get out of it due to the arrears and credit crunch impact, however, i feel a contract was offered, accepted and returned within the 14 days as requested thus should stand.
I was not given any chance of pulling out of the deal thus i feel they shouldnt have an unfair advantage over me.

Will update you all - we might just learn something new

Thanks again for your past help rayday, its been a huge confidence journey but im getting there, i am on a list to speak with a journalist ref my difficulties of what ive encountered by the creditors and believe you me i wont be holding back,,,,,, i will tell it as it is, warts and all.!

Welcome to the newbies since i last wrote, its a fun and friendly place here and never be afraid to ask any silly questions we are here to help always remember that.

hiya pinksparkle, i agree also with rayday and imw1977 - its best to tell your partner - it will come out in the end, i have my plans showing on my credit file - its good to see that though too as it shows you are dealing with the debts positively, but the mortgage company may make further enquiries thus your partner could find out anyway. Best tackle it with both of you together, see how you can improve things together, have a plan and thus both of you working together will help you both. Beleive me, the stress is not worth it.

Above all, keep happy

Have a fun day ciao for now MAZ

rayday2

Definately agree with you complaining re the mortgage these people just do not understand how much it means to us to get a good deal, and we don't like to be messed with.

Definately keep us in the loop you are certainly proactive!

I was in the Sunday telegraph having a go at First Plus (spit) I was so embarassed they sent a photographer round, hate having my picture taken so that was bad enough but when he told us the day before he had been photographing royalty and here he is sitting in my house! He was lovely though.

Then I was in the Independant regarding claiming PPI back. I enjoyed having a dig at my companies and would relish the opportunity you have!

rayday2

Off topic but has Andytwonames been in the topic this week - and if not what was the weather like "down saff" on the weekend