Getting a mortgage while on a DMP

Thrugelmir

I would not be surprised to see at least one lender that's party to the DMP registering a default still.

Paying £200 a month off a £30k debt is going to impact your credit rating for years. There's no advantage in extending the repayment period of the DMP. Lenders hold all the Aces. Only loser is you.

Dave_Ham

We actually discussed this in the office, key point is that the defaults were served over 6 years ago and assumed all other payments made on time.

Specialist lending though....

Challenging, I would get this through though - obviously subject to other circumstances..

MikeJK

Hi.
My Credit file is completely clear.
I do not have any other debt.
Thanks

chanz4

will you not be breaking your dmp t&cs

MikeJK

Well it looks like we will start paying more off the dmp.
It means we will have to wait longer but its obviously the best and sensible way to go.

Thanks for all your help.

MikeJK

Hi.
Out of curiosity, if i choose to self manage my DMP and pay my creditors individually each month would that make a difference to any mortgage application?
I would of course declare my debts in the application.

Thanks

Danii231292

Hi. Iv just signed up to a two year debt management plan. My question is if and when I can get a mortgage once this has done? My debts re only just over 3 grand but I was struggling and put a stop to it before I sink further. Will I ever be able to get a mortgage?

GDVS

Danii231292 wrote: »

Hi. Iv just signed up to a two year debt management plan. My question is if and when I can get a mortgage once this has done? My debts re only just over 3 grand but I was struggling and put a stop to it before I sink further. Will I ever be able to get a mortgage?

I just did with a high street lender so yes, however I waitied until debts were all paid and my credit files were completely clear before applying.