Apply for a debt management plan with a mortgage
If your a homeowner and want to apply for a debt management plan or want to know if debt management is right for you, we could help.
There are more things to consider when you have a mortgage than just reducing your debts, you need to make sure that any debt solution you opt for doesn't put your home at risk and that its affordable, you need to ensure your mortgage and other essential outgoings can still be maintained!
- Make sure you can pay your mortgage each month
- Pay what you can afford to your debts
- Reduce stress & stop creditors hassling you
- Fully qualified, experienced debt advisors
- Confidential, one-2-one advice
To speak to a specialist debt advisor simply complete the form to the right or telephone 0845 094 2331
Debt Management plans have been around for many years and in most cases are a welcome change of pace for people struggling with debt - if you want to find out if we can help prior to phoning us simply take out online debt test today!
A debt management plan can help get your finances under control and will allow you to pay one affordable monthly payment which will then be distributed to your creditors thus alleviating stress and helping you get back in control of your finances - your mortgage payments will be included in your essential outgoings and will be taken into consideration when your new unsecured creditor payments are arranged.
Debt management advice for homeowners & mortgage payers
The downside to debt management is that, in order to arrange lower monthly payments with your creditors, the original credit agreements will usually be defaulted which will affect your credit worthiness and credit score. If you have a mortgage and need help with debts a debt management plan can help but its important to remember your credit rating will more than likely be affected, this could mean you need to use a specialist mortgage lender in the future but, for most people the peace of mind that comes with knowing they can meet their monthly payments to all their debts each month is a welcome change of pace.
Debt Management with a mortgage - is it right for you?
If you have a mortgage and are struggling with debts its important to put things into perspective, what we mean is that your mortgage payments are more important than your unsecured debts, whilst this might seem obvious its sometimes overlooked by borrowers when creditors are hounding for monies you simply don't have.
Applying for a debt management plan with a mortgage with Baker Financial has been made as easy as possible, our advisors complete most of the paperwork for you - they will talk you through every stage of the application and advise of any special or unique circumstances related to your application.
Will a debt management plan make paying my mortgage easier?
Yes, when people are struggling with debts its often the case that the creditor who shouts the loudest gets paid first, sometimes at the expense of missing mortgage payments - a debt management plan (DMP) will take certain expenditure into account, such as mortgage payments and day to day living costs before we work out your creditor payments ensuring you can maintain a reasonable standard of living whilst repaying your debts responsibly.
A DMP isn't a loan and will not mean you borrow any more money, put simply it will allow you to make one single payment to your unsecured debts each month
Getting a mortgage whilst on debt management
If you don't currently have a mortgage, but require debt help now and are wondering if it may be possible to obtain finance in the future and would want to keep your debt management plan in place you may be able to do so depending on your individual circumstances - a mortgage on debt management may still be obtained, as long as everything is still affordable for you and you have enough deposit available we would be happy to look at this for you. Debt Management plans are very good if they fit your needs - we would suggest contacting us today for further information.
I want to apply for a debt management plan for homeowner's
We keep away from industry jargon and treat clients like people, each with individual needs, budgets and requirements. The best way to find out if a debt management plan is right for you is to contact us, simply complete the form at the top right of this page and we will call you back.
