Old debt management plan and getting a mortgage?!?

Shelleyb72

Hi,

I went into a debt management plan and was in it for 22 months and paid my last payment in December 2013. I know that this will stay on my credit report for 6+ years but what are my chances of getting a mortgage with this on my file?

My partner and I are getting married in October and I am hoping to get the ball rolling in November/December time but if I am going to be outright refused a mortgage then we will have to look at renting as an alternative!

Thanks in advance for your help!

ACG

If you have a 15% deposit there is 1 or 2 lenders who will consider it.

If you have a 25% deposit there are a couple more. None of those lenders are high street lenders but i suspect under 5% should be achievable.

I would suggest getting all 3 credit reports (equifax, experian and noddle) and going to see a good broker (preferably not one attached to an estate agent).