Halifax mortgage, old adverse credit

GDVS

In the late 1999-2002 timeframe I had some credit issues that ended up in a DMP, total around 6k and all paid off. It's been over a decade since I so much as had a late bill payment and my credit report is spotless, my only credit has been a four year loan with Barclays (car) which ends in September and a Platinum Simplicity Barclaycard with a currently zero balance that occasionally gets used for large purchases then rapidly paid off.

I'm hoping to be in a position to apply for a Halifax mortgage later this year, there is no adverse information held by any agency but obviously I have to declare the DMP. Will self declared adverse data that old be a problem or is that long enough ago to be considered the folly of youth? Affordability is not an issue, I'm looking for less than three times salary with, by that point, no other debts so my only concern is really the DMP.

Dockside

Sorry to ask....what is DMP?

GDVS

Dockside wrote: »

Sorry to ask....what is DMP?

Debt Management Plan, apologies for being unclear.

Dockside

I just googled it! Obvious now you say it duh!You only need to declare adverse... Ccj's/defaults and arrears..... that have been registered within the last 6 years so you won't need to worry if that's the case. Any repossession bankruptcy or iva will need to be declared regardless of when it was registered. Not sure if your DMP was just resulting in defaults etc or was iva with creditors, if iva then yes it will impact decision.

GDVS

I never had an IVA so there's no record in the Gazette or anything but sadly the application requires you to declare any arrangements with creditors ever, not just ones recent enough that they would show up on a credit check.

Dockside

Just sent you pm

Simon_gloster

Halifaxs question on adverse is "have yiu EVER made arrangements with creditors etc" therefore you have to say yes.

It may provide a positive score pass however generating an underwriter approval. Should you be clean the likelyhood is it'll get manually approved.

GDVS

So just to wrap this up in case anyone has a similar question...

There were two questions on the application that I didn't like, "Have you ever been declared bankrupt, been in a IVA, or made an arrangement with creditors" to which obviously I had to say yes.

Second one I can't remember the exact wording on but it was more or less "Have you ever defaulted on a credit agreement" to which it was another yes.

I expected there to be followup questions about "How much, when, were you actually bankrupt or was it an informal arrangement", that sort of thing, there were none.

Fast forward to today and to quote Chamberlain, "I have in my hand a piece of paper", except mine isn't a promise of Anglo-German peace it's a mortgage offer. Right from the moment of putting in the AIP I've been expecting a metaphorical tap on the shoulder but apparently not, it seems that enough clear water between the folly of youth and the present day can indeed make you credit-worth again.

Gemini222

Sorry to hijack this thread but just wanted o say thank you!
I posted something recently on here..
We were given an AIP last week and are currently waiting on the decision for the mortgage to come through. My husband had a ccj over six years ago, fully paid off and no longer on his credit report. We have no adverse credit and positive criteria on our report.
Said questions on the mortgage application form scared us to death as we thought it was long forgotten.
I know we are not out of the woods as yet but this gives us some hope, so thank you! :-)

GDVS

Gemini222 wrote: »

I know we are not out of the woods as yet but this gives us some hope, so thank you! :-)

Hope things turn out well for you too, it certainly sounds like you're in a similar position to me so fingers crossed