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can i get a mortgage whilst on a DMP?
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Old 26-10-2007, 12:46 PM
MoneySaving Convert
Join Date: Apr 2007
Posts: 31
Default can i get a mortgage whilst on a DMP?

Hello everyone...just popped over from Debt Free Wannabee forum and need some urgent advice as cant seem to find any info at all. Has anyone, or does anybody know if it is still possible to get a mortgage whilst on a Debt Managent Plan? If so do you know who to talk to, who does them etc? Any help would be most grateful..thankyou M
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# 2
Old 26-10-2007, 1:03 PM
Deliciously Dedicated Diehard MoneySaving Devotee
Join Date: Jul 2005
Posts: 23,642

Yes it is possible, but of course subject to your fulfilling all the other criteria.

If you have little deposit you may well struggle to obtain a mortgage with a DMP.

The key factor driving the market is the new lack of appetite for risk. Investors that lend mortgage companies money are now wanting to take much less risk than they were. This has 2 effects; 1) Higher rates 2) Much tougher lending criteria.

Give us a bit more info about your situation (deposit, house price, income, job status, age, etc)
I run my own specialist finance consultancy for those with complex issues. I am not FCA regulated (by choice). I mention this as some users like to run things by me. I do not offer advice, only information.
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