Posted on 6 February 2011 by Sally
We are currently in a Debt Management Plan with Consumer Credit Counselling Services (CCCS). Our fixed term mortgage ends July 2011 (Alliance and Leicester).
What options do we have? I presume we just go on the SVR? Can they charge us more because of the DMP? We have never missed a mortgage payment.
If you don't take any action you will revert to the SVR, currently 4.24%. Santander will not charge you any more because of your debt management plan, but it does effectively rule out remortgaging to another Lender in July.
However, Santander do offer special retention/loyalty products for existing customers and because you have maintained your mortgage payments I think they will be able to offer you one of these. You can arrange a new Variable or Tracker rate up to 5 months before your fixed rate ends and a new Fixed rate up to 4 months beforehand by calling them on 0800 092 3881.
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