Advice & Support for New Mortgage Application After DMP

time-4-a-new-start

Hi

I found another thread that mentioned that this area might have some mortgage consultants who can provide some advice and also maybe services to apply for a new mortgage. Happy to provide more details, but as a summary...

I was previously in a DMP (it began in 2011 and ended in December 2018). I checked my credit rating recently and it's ok, Experian is a very high rating and Equifax is above UK average. While all my other creditors are no longer listed, there are still 2 defaults on my report as 2 of my creditors applied them late (which I am contesting but they are there at the min).

I am looking to progress with a new mortgage with my partner (she wasnt connected to my DMP and has an excellent credit rating) which will be a joint application to buy a new home for us. We will be selling two homes to help us buy our new home so we have funds for a deposit.

I wanted to ask for advice and also if any advisors on here would be keen on helping with an application.

Thanks

ACG

It sounds like there will be options and I would like to think normal rates. I suppose a lot will depend on when those 2 defaults were registered and whether they will be removed.

Worst case scenario though you should be able to get a mortgage, it will just come down to whether or not it is normal rates or somewhere in and around the 3-4% mark.

time-4-a-new-start

Thanks for the reply.

At current both of those defaults are showing as 2015 and 2016, but I am looking to challenge them as they were all part of my DMP before the collection agencies took them over in 2015 and 16.

They currently show up on the Equifax report but not Experian

ACG

It is a little hit and miss as to whether or not it would be normal rates. Those default dates being altered so they are removed will improve those chances. I would just concentrate on getting those removed if time is on your side as it could be a month or 2 before they are gone.

time-4-a-new-start

Thanks. Time isnt on our side as we have found a property and also we are getting on in years so 25 year mortgage is just within reach.

We have an application in with a lender so fingers crossed we get through as they were on of my original creditors from 2011 - but to be honest so were all the big main lenders