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Dmp
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Lennygax
Posts: 2 Newbie
hi can anyone help? I am currently paying off my debts through a debt management plan. One of the creditors have defulted my loan even though i am paying a reduced amount each month. Can I get a mortgage? Any help appreciated
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Comments
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Highly unlikely.
The default might have been possible on its own, depending on the date of registration, size, amount of deposit etc.
However, the DMP will make this a non-starter.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
thank You kingstreet0
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Focus on clearing the DMP as quickly as possible. Some people view a DMP as an interest free loan. That it may be. However as long as you remain in the DMP it will affect your ability to obtain credit.0
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