Remortgage while on a debt management plan?

[Cashcrisis]

Hello has anyone else managed to get a mortgage while on a debt management plan? My husband and I have been on a DMP with Step Change for the past five years - best thing we ever did, helped us to budget properly for the first time and stopped all interest which was racking up on credit cards - but it has adversely affected our credit score meaning it is very difficult to remortgage.
We are currently paying a high (ish) interest rate on our current mortgage and want to remortgage elsewhere to benefit from a lower rate of interest, and also release some equity in the house. (House is worth £1.6m (we live in central London in a very ordinary victorian terraced house!), with a mortgage of around £200k. So loads of equity, but difficult because of the DMP. Can anyone advise or recommend any creative financial advisors who might be able to help people in less than straightforward financial positions (My husband an I are both self employed to add to the complications)? We don't want to sell the house at the moment for various reasons, though that would obviously enable us to pay off our debts in one fell swoop, and is the ultimat long term plan.

Your existing lenders will usually let you transfer onto a new product without actually bothering to run credit checks on you, and that will include letting you transfer to a better rate if the amount you have paid off puts you into a lower LTV ratio than you were when you started. But that would be without borrowing more but are you sure this is wise? The DMP situation suggests that it might be more sensible to just try to pay everything down, not let the debt build up again. If you extracted some equity wouldn't you be expected to distribute it among the creditors who are part of the DMP?

If you're wanting to remortgage to a cheaper rate to lower your payments, speak to Stepchange directly. They have a Financial Solutions department with advisors who act as mortgage brokers specifically for their clients in financial difficulty. However, I doubt they would help you increase your borrowing as they wouldn't think this would be in your best interest.

Thanks for your response KihoBebilu and Melonportal. I am not sure whether our existing lender will let us switch to another product but will call them tomorrow to find out. I wasn't aware that Stepchange have financial advisers, so will also call them - thanks for the tip off!