Advise needed remortgaging poor credit score

thegoodlife

Hello and thanks for taking time to read my post , basically I would like to move house but our credit score is poor ,
Score around 220 for both of use , have debt management plan for last couple years step change, around 7 thousand to pay.
Mortgage has about 70000 left on it , but have secured loan for 57000 remaining too house value is 175000 .
Not in a hurry to move but want to be in best position to get a new mortgage, current joint salary is 60000, current lender not interested last year on taking on the secured loan
My ideas are
Sell up and rent clearing all outstanding then hope to buy again but worried might never own again as approaching 50
Focus on paying off debt for a year and then try and move
Get a remortgage now from an adverse credit lender
Advise greatly appreciated, how long after paying off the debt would it be possible to get a mortgage approved , never missed any mortgage payments for over 20 years
Thanks again

amnblog

What is the purpose of the move?

Are you looking to scale up or scale down?

thegoodlife

We need a bigger house really , so would be looking for a property around 270000 we would have about 45000 deposit, I can wait a bit if it would be better, maybe try and pay off the dmp but if there are options I would love to move ASAP as I am don’t want a mortgage going on in to our old age 🙂

thegoodlife

I was thinking just after Christmas maybe trying we will have more equity and the debt will be lower , is it at all possible to get a mortgage with Dmp? It could be settled with some funds of the sale , We would be better off than we are now as the secured loan is 9 percent and the payment is higher than if we got another deal