Finding an adverse credit broker

Woodypuddy

Hi,
I have mentioned on another post that I am 1 year into a very long DMP and ideally I would like to move house and release some equity in it to pay off the DMP in full.

I have spoken to an independent broker recommended by an estate agent however I know I need one that deals with adverse mortgages. The guy I spoke to didn't really help (I had to explain that a DMP was not an IVA) and his response was basically that he couldn't find any mortgage lender that would lend to someone on an IVA.

I hope to be able to port my mortgage but am conscious they may not oblige so wanted to also see what else was out there.
My question is - how to I find a good broker that actually deals with adverse?
Many thanks

ACG

How much are you hoping to purchase for?
How much is your deposit?
Where is your deposit coming from?
When is the latest default registered on your credit report?

Thrugelmir

Woodypuddy wrote: »

Hi,
I have mentioned on another post that I am 1 year into a very long DMP and ideally I would like to move house and release some equity in it to pay off the DMP in full.

Will you be increasing or decreasing your mortgage in the process?

Woodypuddy

Hi, my current house is valued at around 340k, the mortgage is c. 225k, we want to keep the same mortgage (no more no less) and purchase a house for around 290-300k. That would release enough money to pay off the debts. The LTV was at 85% when we got the mortgage 3 years ago and it would be less than this (75-80% if we move). The deposit would also come from the sale of the house although we have c. 5k saved to help finance the move.
It is only me with the DMP (not my husband). We both have decent jobs that we have been with for a number of years.
My DMP is due to credit cards - a couple of recently defaulted, one just shows agreed payment and the remaining couple haven't done anything yet. I have been on the DMP for a year.
Thanks in advance

Sazzie23

Hi Woody

I did try one recommend by SC but he said it was a no go. the only option I had was to go with existing company (entirely different circs to your though) but they remortgage for me and at a better relate than I'd started with!