Hi, Does anyone have any advice on remortgaging when on a DMP?
We currently have a tracker with C&G on a great rate due (1.69%) to the last remortgage just before rates started to plumet. Unfortunatly, our great rate comes to an end in October, and will get put on the standard variable rate.
We are however struggling with unsecured debts, and entered into a DMP last August, and will struggle to pay the increased cost of the mortgage.
I am therefore thinking about trying to get an interest only mortgage for a few years, until we clear our other debts and can afford to start making capitial repayments again.
Can anyone advise on the best course of action, or if we are going to be better off reducing our DMP Payment to stay with our current mortgage?
Thanks...
We currently have a tracker with C&G on a great rate due (1.69%) to the last remortgage just before rates started to plumet. Unfortunatly, our great rate comes to an end in October, and will get put on the standard variable rate.
We are however struggling with unsecured debts, and entered into a DMP last August, and will struggle to pay the increased cost of the mortgage.
I am therefore thinking about trying to get an interest only mortgage for a few years, until we clear our other debts and can afford to start making capitial repayments again.
Can anyone advise on the best course of action, or if we are going to be better off reducing our DMP Payment to stay with our current mortgage?
Thanks...