mortgage declined 😭

Jon_B_2

You are on a Debt Management Plan. How could you expect a lender to give you money?!

cycloneuk

Is it just the 1 default and what is the default date?

Thrugelmir

*feisty*fairy* wrote: »

I dont want another house, we need this move, we are in a house thats too small and we have worked hard to get this, our house is practically sold and we need this!

Using a DMP as an interest free loan is not an option. Many people think it is. Whereas repaying the debt quicker was the option you should have choosen.

DCFC79

If its not meant to be then its not meant to be, follow the advice that's been posted.

*feisty*fairy*

We had no other option, we were paying more out than had coming in to cover interest. We have never ever missed any payments.

*feisty*fairy*

That's just it, we already have a mortgage, have never missed a payment and the mortgage we want now is for less as we have a sizeable deposit from rhe sale of our house!

dawyldthing

http://www.halifax.co.uk/mortgages/mortgage-information/porting/

Can you not port it over to the new house? I'm sure I got told something about porting when I bought mine as she said if you move you can often take the mortgage with you

dawyldthing

Plus if you are borrowing less it might be an option (I'm not in mortgages but I just remember having a conversation with the woman from the halifax

*feisty*fairy*

Apparently not no because we are now on a variable rate as opposed to a fixed rate term x

KRB2725

*feisty*fairy* wrote: »

We had no other option, we were paying more out than had coming in to cover interest. We have never ever missed any payments.

Without wishing to be rude & I'm certainly not being judgemental, but the DMP isn't a consolidation loan, it's an arrangement that's in place because you borrowed more than you could repay.

The fact that you haven't missed any payments is great, but it still means you failed to satisfy the financial agreements that you made initially.

I hope a broker can help you out.