anyone on DMP wanting Mortgage?

worrygirl

Hello everyone !

Im just curious really, Has anyone managed to get a mortgage while on a DMP? I am still living at home paying off as much as possible on my DMP to get the debt clear been on it 15 months now and paid of nearly £7000 :T but still a long way to go I hope to move out next year and rent somewhere (been putting it off to pay as much as possible each month to DMP)

But was just wondering how it would work on getting my own place - i know with the way the houseing market is at the moment there is no chance but jsut wondered if when things do die down and get easyier if it is possible to have your own place while on a DMP? (i owe about 40k:o ) Has anyone managed this ? would love to hear experiences?

Many thanks :beer:

~Beanie~

To get a mortage in the current climate you need a sizeable deposit and a pretty decent credit record and I can't see this changing for a while yet.

The DMP will have trashed your credit file so you will probably fail to get a mortgage due to that alone but where would you get a deposit from anyway? If you have money to save for a deposit then you should really be paying more into your DMP.

worrygirl

I know the DMP has 'trashed' my credit file- thank you for reminding me, and you are right if i had any more money to save it would be on the DMP to pay it off - I was just asking for peoples experiences in the past

I guess i am just hoping for a tiny little glimmer of light at the end of the very very long tunnel