Help~~ Paid DMP - Now want a Mortgage is this possible???

louise2611

Hello there,

My partner has been separated from his soon to be wife for 2.5years and we are dating, our future has been slightly hick up'ed or shall I say mine, as I have Bad credit and have been flawless since I can remember! I have credit but never felt the need to go into DMP (debt management plan)

However my partner and his ex have run up a whopping £58k in the debt management plan (for homes repair etc) what ever it is its still £58k

Now they are selling both properties and the homes will generate enough money to pay all the debts off in the DMP with Pay Plan, I have been told this stays on his credit file for 6years, But we are moving to my mothers to save up around £25k which should take us about 1year maybe less and then go for a mortgage!

The only reason they are not keeping both properties is due to the fact that although they both have been paying the mortgage on their homes they are living in each (one in a flat one in a house) the mortgage companies will not allow one to remove the other from the mortgage due to it being too risky as they want both people to stay on it!

Having said all this What I really want to know is Could anyone please share some ideas or Tips on what we could do to help this to happen as I do not know any more than I have said so far relating to mortgages with a defaulted credit history. We really do want a mortgage or I do at least for my first time!

Looking for polite and constructive feedback please, I have seen some messages on here with people getting rude regarding people on DMP wanting mortgages, Please remember im not the one on a DMP but im only after some advice on who would lend and how to look better in credit etc.

Thank you for your time

Big Smiles

Louise :j

Dave_Ham

Once he is clear of the DMP, the world is easier although his past is not forgotten.

It may be worth you exploring putting the mortgage in just your name, you can protect both parties interest.

Failing this, you will need a big mortgage or years on the clock to mitigate the DMP history.

All the best