DMP and mortgage

[Rainydaysandthursdays]

I am on a debt management plan that I will have cleared just after my mortgage is due to be renewed. I probably have very little chance of getting a good new rate as my credit score will be low. Will I be able to go straight on to my current mortgage providers standard interest rate without reapplying/credit checks?

Yes you can secure a good rate with your current provider without going through credit checks. Credit score doesn't make any difference for existing customers to secure good rates. I assumed that you're not borrowing additional or reducing the term of the mortgage

I didn't need any credit checks with current provider so just looked for their best offer online and went with that. Very unlikely you'll get a good deal elsewhere until credit rating has improved.

You can do a product transfer with your current lender. Don't stay on standard variable rate. Its expensive.

I wouldn’t be extending term or borrowing extra. It’s not for some time so hopefully the rates on offer are generally better when I renew.

you can secure the rate six months in advance. If rates drops within that time period you can always ask for lower rate.

A good broker will always keep an eye out for a reduced rate for you and ask if you want to move to it.