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Moving on from DMP
mds303
Posts: 28 Forumite
I was on a DMP for two years and paid it off in full after selling my house. I am keen to repair my credit as quickly as possible.
I have got a credit card for car fuel which I settle every month and am in the electoral register at my new property.
Is there anything else I can do that will help, as I would like to get a mortgage in the near future.
Thanks in advance.
I have got a credit card for car fuel which I settle every month and am in the electoral register at my new property.
Is there anything else I can do that will help, as I would like to get a mortgage in the near future.
Thanks in advance.
0
Comments
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Hi
Apart from maintaining other contracts which might be shown on your credit file such as mobile phones and some utilities, it sounds like you’re doing everything you can from a credit reference perspective.
Of course, affordability and your deposit size play a large part in a mortgage application, so make sure you have those aspects covered too.
I think it would be worth you contacting a ‘whole of the market’ mortgage broker before you apply, as the defaulted debts may be an issue for some mortgage lenders despite paying the debts off in full.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thank you James. I have a pretty decent sized deposit ready. How do u find info on a 'whole market' mortgage broker?
Thanks again for the input0 -
Thank you James. I have a pretty decent sized deposit ready. How do u find info on a 'whole market' mortgage broker?
Thanks again for the input
Google would be your friend here !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I'm on it. Really hoping for some luck0
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Reach financial services may be able to help. They look for deals with people on dmp etc. I failed affordability , but they were easy to get on with
and care . Good luck0 -
How do u find info on a 'whole market' mortgage broker?
The Money Advice Service has some information here and it includes a few links to websites where you can search for brokers.
https://www.moneyadviceservice.org.uk/en/articles/choosing-a-mortgage-shop-around-or-get-advice
There’s also a section of this forum specifically about mortgages, so there might be people there who can give you more advice too.
http://forums.moneysavingexpert.com/forumdisplay.php?f=15
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thanks guys. Appreciate your input.0
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