Can someone with some experience please help me!!

Oxid8uk

You will find that you will need at least 20% equity in your current property (usually 25%) before you can convert it to a BTL mortgage – and you will have to pay the hefty admin fees to convert it. And for the second mortgage you will need at least 20% deposit, not 10%.
So looks like you will have to work that second job for a bit longer….

Caz3121

How much equity do you have in the current property
you choices will be to sell and use the equity to pay off debts or if you want to rent it out you will need to ensure that your LTV is 80% max and if less you will need to pay to get it to that

edit: got distracted and beaten to it by post above!

Leon_W

All this is rather a side issue.

Kingstreet is correct. Broker or not. There are no mortgages available now and there will be no mortgages available in two years.

It is already too late for Birmingham Midshires as they've already lent the money, and all the others have learnt a valuable lesson lending to people with poor credit histories and will not readily do so in the forseeable future.

DannyboyMidlands

As others have said, how can you save 15 grand in 18 months yet can only afford to pay back £1 per month of your debts?

It doesn't matter whether they are "old" or not. You need to pay them back.

Evilm

With a clean credit file I would struggle to get approved for what you are asking for. With the credit file that you must have... I'd be speechless if you didn't get laughed out the door. With the debt management companies agreement you would have a problem but and with CCJs you have absolutely no chance!

To be honest "wanting to love your life" has no influence with Lenders - as it shouldn't! I want a nice life but I am realistic enough to realise that doesn't mean the Banks owe me another mortgage so that I can have two properties!

getmore4less

I thought there was requirement with DMP to let them know your changes in income.

Those curently getting less vavourable treatment over those you are paying will not be very happy when thye find out you have beed deceiving them.

If you really want a clean slate you should do an IVA or go bankrupt

FraudBuster

I thought there was requirement with DMP to let them know your changes in income.

It is normal practice for a review to take place every six months.