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  • FIRST POST
    • jubilee14
    • By jubilee14 13th Feb 18, 3:04 PM
    • 279Posts
    • 852Thanks
    jubilee14
    Re-Mortgage on DMP broker advice
    • #1
    • 13th Feb 18, 3:04 PM
    Re-Mortgage on DMP broker advice 13th Feb 18 at 3:04 PM
    Hi i'm on a dmp which has 13 months left to run. After that i will still have 2 years of default notice on 1 of my debts (although settled) I know people say it can be done if using a broker. But going on line and tried it once who then tried to sell me further credit rating products. So was hoping if someone can recommend brokers that might be suitable i know i'll have to pay a fee but it might be worth it as the SVR might be going up the way interest rates are going.

    would appreciate any advice.

    thanks
    LBM Sept 2012
    started DMP 1.11.12
    Debt 37012/5649 DFD Oct 2019 about April 2019
Page 1
    • ACG
    • By ACG 13th Feb 18, 3:06 PM
    • 16,833 Posts
    • 8,784 Thanks
    ACG
    • #2
    • 13th Feb 18, 3:06 PM
    • #2
    • 13th Feb 18, 3:06 PM
    Can you not switch products with your current lender?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • jubilee14
    • By jubilee14 13th Feb 18, 3:20 PM
    • 279 Posts
    • 852 Thanks
    jubilee14
    • #3
    • 13th Feb 18, 3:20 PM
    • #3
    • 13th Feb 18, 3:20 PM
    Hi sorry no should have said its with Landmark ( was Northern Rock) they dont do remortgage.
    LBM Sept 2012
    started DMP 1.11.12
    Debt 37012/5649 DFD Oct 2019 about April 2019
    • kingstreet
    • By kingstreet 13th Feb 18, 4:04 PM
    • 33,367 Posts
    • 18,052 Thanks
    kingstreet
    • #4
    • 13th Feb 18, 4:04 PM
    • #4
    • 13th Feb 18, 4:04 PM
    What are you trying to achieve?

    The rate(s) you are offered are likely to be higher than what you are paying now.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • jubilee14
    • By jubilee14 13th Feb 18, 4:37 PM
    • 279 Posts
    • 852 Thanks
    jubilee14
    • #5
    • 13th Feb 18, 4:37 PM
    • #5
    • 13th Feb 18, 4:37 PM
    Was looking to see if any room in rate reduction but if going to be higher than on which is 4.79% as includes a discounted rate then i will just stay put for now thanks for the advice.
    LBM Sept 2012
    started DMP 1.11.12
    Debt 37012/5649 DFD Oct 2019 about April 2019
    • kingstreet
    • By kingstreet 13th Feb 18, 4:48 PM
    • 33,367 Posts
    • 18,052 Thanks
    kingstreet
    • #6
    • 13th Feb 18, 4:48 PM
    • #6
    • 13th Feb 18, 4:48 PM
    You might see a small reduction, but as you may have a valuation, broker and legal fees to pay, one might outweigh the other.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • DCFC79
    • By DCFC79 13th Feb 18, 6:06 PM
    • 31,642 Posts
    • 19,962 Thanks
    DCFC79
    • #7
    • 13th Feb 18, 6:06 PM
    • #7
    • 13th Feb 18, 6:06 PM
    Find a broker local to you, easier this way if forms etc need to be dropped off.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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