Getting a remortgage after a default

jpragnell

Hi.
I defaulted on a credit card about 6 months ago after agreeing to enter into a debt management plan with Churchwood with my wife. We have now separated and I'm trying to buy her out, but, I cant find any mortgage company who will give me a mortgage!

Has anyone had any dealings with any companies who would accept people on a DMP?

Many thanks

Jpragnell

Dave_Ham

This will be very, very difficult as I am sure you have already found out.

What is your current mortgage and approximate valuation?

Have you got your Experian, Equifax and Call Credit reports to see how they have marked this on your Credit file?

If not, your next step should be to get the £2 stat reports..

jpragnell

Yes, still finding out.

Current loan is 117,000 and house value of around 190,00.

I have signed up to credit expert who rate me as in the middle of poor.

Think I've got no chance!

Dave_Ham

Forget their scores, they mean nothing but the content is all important.

Credit Expert will be Experian. How does the DMP show on there, is there a default date and/or are AP showing on the grid underneath the specific card?

Would not be giving up just yet...

Thrugelmir

Are you still in the DMP?

jpragnell

Yes, still in DMP

Credit expert shows the defaulted account and shows default date of 28/08. Each month since, shows as an 8

Dave_Ham

Ok, the options left on Experian are pay a premium rate or sell up. You need to assess how they are recorded on Equifax and Call Credit.

Good luck

jpragnell

Thanks for your advice.

Thrugelmir

jpragnell wrote: »

Yes, still in DMP

Then you'll need to deal with the unsecured debt first. Once cleared time will heal your credit worthiness.