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Been a while since I have posted again!
Been on a DMP since 2009 and hubby was Bankrupt same year. Have also been on interest only mortgage since then with balance of £92/93K, property worth about £145K. We have wanted to start back on repayment mortgage for last couple of years but it's just never happened. Definitely need to do it in the new year though.
Question is how will the DMP/Bankruptcy affect this?
We need to extend the mortgage term (term just now is about 8/9 years but no way we could keep that and afford repayents) so we will need to phone them (Yorkshire BS) and I assume do credit check and so on. Our credit files are clear now, everything has fallen off but obviously the debt remains. Will they ask about our levels of debt and Bunkruptcy or just do credit check and change the term? What is the worst that could happen?
Any pointers before we take the plunge would be appreciated.
Many thanks
Been on a DMP since 2009 and hubby was Bankrupt same year. Have also been on interest only mortgage since then with balance of £92/93K, property worth about £145K. We have wanted to start back on repayment mortgage for last couple of years but it's just never happened. Definitely need to do it in the new year though.
Question is how will the DMP/Bankruptcy affect this?
We need to extend the mortgage term (term just now is about 8/9 years but no way we could keep that and afford repayents) so we will need to phone them (Yorkshire BS) and I assume do credit check and so on. Our credit files are clear now, everything has fallen off but obviously the debt remains. Will they ask about our levels of debt and Bunkruptcy or just do credit check and change the term? What is the worst that could happen?
Any pointers before we take the plunge would be appreciated.
Many thanks