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Impact of DMP on credit record and mortgage offers
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Experian_company_representative wrote: »This article may provide a little more guidance, but ultimately it will be down to the lender making the assessment. A mortgage broker might be a sensible option.
http://news.payplan.com/2012/05/14/understanding-credit-reports-and-how-they-are-affected-by-dmps/
James Jones
Many thanks James
The photo was an added bonus too!
Still feels contradictory though, on one hand it seems that it's good to show that you have kept up commuications and commitment to pay back but it still feels like people that 'walk away' and get defaulted will end up with a clean record quicker than someone on a DMP without defaults.
Still confused.com
HHx0 -
Well I don't know about mortgages yet, because I'm yet to get to that point.
BUT I was in a DMP and Halifax offered me a 15K loan at the same time, some of my accounts with them were in a DMP the month before the offer!!!0 -
GibbsRule_No3 wrote: »HH thanks for the new thread from a fellow paddler. I will end my dmp next year also. My predicament is slightly strange and I wonder if anyone can help. Next year I hit the big 60 and due to lucky employment that automatically enrolled a young 17 year old in a final salary scheme, no knowledge input by me, I will actually have more money spare than at anytime of my life. I won't need credit. Not likely to need a mortgage, don't drive, so no car finance but would like a credit card for booking holidays just incase anything happens and the security of booking via cc than a debit card sounds good. I am also sure that paying for something monthly on a 0% rather than paying in full (might as well have the money in an account gaining interest if I can) could work. If they do a credit check and see the amount of money would this negate the dmp markers or at least help?
it would be best to start your own thread with your question so as not to confuse HH's specific query hereMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0 -
Thrifty_Pixie wrote: »it would be best to start your own thread with your question so as not to confuse HH's specific query here
Thanks but am more than happy for Gibbs query to be here
HHx0 -
Hopelessly_Hopeful wrote: »Thanks but am more than happy for Gibbs query to be here
HHx
With two people asking questions, it's hard to keep track!
When I see this I often stop reading.
Also made me chuckle as it seems your giving people permission to post0 -
With two people asking questions, it's hard to keep track!
When I see this I often stop reading.
Also made me chuckle as it seems your giving people permission to post
No offence intended but I started the thread. It was more an issue that I didn't want to exclude! Futhermore, Gibbs is a good ally of mine, sensible and measured, the query is still related, it is the credit record that has the impact on the mortgage. I'm not worried about keeping up!!!!!!
HHx0 -
Hopelessly_Hopeful wrote: »No offence intended but I started the thread. It was more an issue that I didn't want to exclude! Futhermore, Gibbs is a good ally of mine, sensible and measured, the query is still related, it is the credit record that has the impact on the mortgage. I'm not worried about keeping up!!!!!!
HHx
You'll most likely find that there'll be few responses. As keeping posts to a single thread is basic forum advice. Multi threads just become confused and difficult to follow.0 -
as the above posters said - i was commenting for clarity rather than thread-Nazism
but if you're happy, we're happy, etc etc
Mortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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