Help please! Mortgage after DMP

emmy2301

Hi, sorry this is a long post but I'm going out of my mind with worry.
I entered a DMP in 2008 for £38k, I made all the agreed payments, managed to increase them each year and completed it in July 2013. One of my creditors MBNA never defaulted my payments and reported arrangements to pay and added a note underneath stating the account is paid as part of a DMP. These markers will stay on my file until July 2018.
During this time I always maintained my mortgage payments as priority debt, I have just sold my property and have a £35k deposit. I earn £49k and have no other debt and although it means nothing excellent credit scores.
I have a mortgage broker who got me an AIP with Halifax with expired as it took so long to sell the property, now we need to reapply I looked at Halifax guidance and they now class DMP in the same bracket as IVAs and bankruptcy as a straight forward decline, so we can't go back to them.
I called on online broker for some second opinion advice as was told there was no high street lender willing to lend until 6 years has lapsed and the markers are gone.
We desperately need to move. When I first went in to the DMP I couldn't sleep and ended up in medication for anxiety. I had been told lenders look at AP and DMPS favourably as it shows you made an attempt to pay back what you owe, which I broke my back and made sacrifices to do like delaying starting a family. I'm now pregnant and feel so stressed with this, I feel like this episode in my life will never leave me and by default will impact on the life of my children.
The broker is looking at options, it's been a week and I'm worried sick. What I need to know is are there any high street lenders who might consider me? Any advice would be greatly appreciated

Jon_B_2

I'm not in a position to help, although I would guess high street lenders would be a challenge.

However, I am puzzled as to why you sold your house without investigating this first?

Doozergirl

I'd go to the Debt Free Wannabe. Forum for advice on getting that marker moved. The law is such now that you cannot be disadvantaged over someone who makes no effort to pay, simply because you were responsible about your debt.

They should point you in the right direction for a letter template to get that marker pushed back to within 6 months of your DMP starting. That should help your situation greatly as the 6 year mark will have moved and not be current.

emmy2301

I did look in to it, I went to a broker in April who assured me it would be fine and I got two AIPs no problem, but I'm not sure they are worth the paper they are written on, now we've sold and are seriously looking it doesn't appear to be as straight forward

emmy2301

Thanks for the advice re the markers ive spoken to Moorgate previously and they insist it's been accurately reported, but I could see where I get putting it in writing

Doozergirl

emmy2301 wrote: »

Thanks for the advice re the markers ive spoken to Moorgate previously and they insist it's been accurately reported, but I could see where I get putting it in writing

There's plenty of people succeeding on the DFW board. Go for it. Banks are obliged to "treat customers fairly".

AdrianC

emmy2301 wrote: »

These markers will stay on my file until July 2018.

I have a mortgage broker who got me an AIP with Halifax with expired as it took so long to sell the property, now we need to reapply I looked at Halifax guidance and they now class DMP in the same bracket as IVAs and bankruptcy as a straight forward decline, so we can't go back to them.
I called on online broker for some second opinion advice as was told there was no high street lender willing to lend until 6 years has lapsed and the markers are gone.
We desperately need to move.

If you really can't find anybody willing to lend to you, then there's nothing to stop you moving. But it would be to a rented property until you are in a position to get another mortgage.

I feel like this episode in my life will never leave me

It will - in just over a year and a half, when the marker is removed from your file.

glentoran99

Did you speak to your existing mortgage provider? I had similar debt and started DMP in 2011, debt all paid end of 2014, We were able to move and even borrow more this year and completed end of October, This was a high street lender.

emmy2301

It's Nationwide, the broker is speaking to them should hear tomorrow, fingers crossed I suppose it depends on their criteria

glentoran99

emmy2301 wrote: »

It's Nationwide, the broker is speaking to them should hear tomorrow, fingers crossed I suppose it depends on their criteria

The fact you were a good customer with them will go in your favour