Mortgage, DMP, Defaults and satisfaction dates

Dandytf

This debt has now been fully paid with my final DMP payment December 2014.

Today my credit score looks a healthy 982

Was it months or years to get your healthy credit reported after your dmp was complete?

csgohan4

Dandytf wrote: »

This debt has now been fully paid with my final DMP payment December 2014.

Today my credit score looks a healthy 982

Was it months or years to get your healthy credit reported after your dmp was complete?

Even if you have a credit score of 100000 it does not mean anything to lenders. They don't look at the score, scores are calculated by the credit file agencies to lull you into a sense of false security and use their products.


Someone with the same score as you with no defaults will get a mortgage no problem I.E it's the history that matters and unfortunately defaults have a significant bearing especially being less than a year ago. They take up to 6 years to drop off your file.

The OP clearly had something going in their favour and hence a broker was more appropriate than going direct. Congrats OP.

tr1als_andy

Dandytf wrote: »

This debt has now been fully paid with my final DMP payment December 2014.

Today my credit score looks a healthy 982

Was it months or years to get your healthy credit reported after your dmp was complete?

Sorry for the very late response to this, I'm not a regular.

It was only months before credit score increased however as has been mentioned the score doesn't really seem to mean much, if anything when it comes to the mortgage.

tr1als_andy

csgohan4 wrote: »

The OP clearly had something going in their favour and hence a broker was more appropriate than going direct. Congrats OP.

Thanks!

Yes I'm not sure what went in my favour, although salary had near on tripled in the 6 years I was on a DMP - That probably went a fair way!

Also I never once made a late payment on the old mortgage -I was always very careful about that.

Again, sorry for the late responses!