Mortgage after DMP

Woody26

Good evening,

I was wondering if anyone might be able to give me some advice on gaining a mortgage.

My husband has an excellent credit record, with no issues whatsoever. I however started a DMP in December 2011 and completed this in August 2016. I have 5 defaults on my file, the latest being registered I. July 2012. The majority will drop off in January and February next year.

We gained a DIP from Halifax in March this year. However when I discussed our case with a mortgage advisor he advised that Halifax would not take an application from us due to it not being 6 years since the DMP started. It will be 6 years in December. So I am wondering what our chances are of gaining a Help to Buy mortgage now that it is coming up for 6 years.

I have seen that Precise now offer mortgage to people with DMPs so I am hoping that may be an option. I have also looked at the Aldermore criteria and feel we may fit that too.

Are lenders more lenient when one person has an excellent record?

Any advice would be very gratefully received.

Thank you

amnblog

Yes, this sound like a case that will achieve a Help to Buy Mortgage, subject to affordability -we complete similar cases regularly.

Engage a good mortgage broker.

Woody26

Thanks very much for your response. We aren’t too worried about the affordability as we both earn good salary’s. It’s more my financial position. Do you have any recommendations of mortgage brokers? (If this is allowed). We looked at new builds and they have said to get stamp duty paid we would need to engage their mortgage advisors. Not sure if that is a good idea or not with my financial situation.