How do I get a mortgage after I've settled my DMP ???

yksi

It's not personal. The banks look at it entirely as risk, which is about percentages, not about human beings. All they see is that there was a default and ARs in the past, which means that statistically it is more likely to happen again than with a file which has none. Try to look at it as them judging your file - not you as a human.

And remember that you're not actually stuck in the mortgage you get forever. They can be refinanced on better deals as your adverse events get older.

Caspar54

How do I contact your company?

Caspar54

How do I contact your company?

MovingForwards

Caspar54 wrote: »

How do I contact your company?

Which member is it you want to speak with?

All I did was dropped the broker a message via PM, said I wanted them to help me and gave a link to one of my posts.

You have to approach them.

ncass

I pop onto these forums every now and then and often find lots of good advise. Having recently gone through the mortgage application process i thought i'd chip in to this as people are often quick to chip in opinions but most of the information is available online if you just search for it.

We went with Barlcays 2 months after my partner settled her DMP and sailed through to approval at 1.76% fixed for 5 years with no issues. The thing to remember is that a DMP is your solution to your adverse credit not the cause, they appear to only be interested in the cause of your perceived adverse credit such your default date, missed payments etc

I'd paste the link but the forum prevents me but if you Google "Barclays lending criteria" and follow the links to adverse credit you can read exactly what would exclude you being approved. I haven't checked but i would imagine most big lenders will have similar details published online to support brokers and individual applicants. I'd suggest getting key dates off your credit file and check against a few banks criteria to see if you would pass any

ACG

ncass wrote: »

I pop onto these forums every now and then and often find lots of good advise. Having recently gone through the mortgage application process i thought i'd chip in to this as people are often quick to chip in opinions but most of the information is available online if you just search for it.

We went with Barlcays 2 months after my partner settled her DMP and sailed through to approval at 1.76% fixed for 5 years with no issues. The thing to remember is that a DMP is your solution to your adverse credit not the cause, they appear to only be interested in the cause of your perceived adverse credit such your default date, missed payments etc

I'd paste the link but the forum prevents me but if you Google "Barclays lending criteria" and follow the links to adverse credit you can read exactly what would exclude you being approved. I haven't checked but i would imagine most big lenders will have similar details published online to support brokers and individual applicants. I'd suggest getting key dates off your credit file and check against a few banks criteria to see if you would pass any

Do you bank with Barclays? I only ask as every broker I know avoids Barclays like the plague, they are not the best to deal with (putting it mildly) but they tend to be ok if you bank with them.

Interesting to also know what your credit report was like. If you have been in the DMP a long time, your credit report would usually appear better than if the DMP has only been in place maybe 2-3 years.

[Deleted User]

Since a DMP is an informal arrangement how would lenders know the OP only just finished one 7 months ago unless the lender was one who had been caught up in the DMP?  The OP says there's on one default showing on the credit files now so it's not as if a credit search is going to show much.  I'm not saying the brokers posting on the thread are wrong, I'm just curious.

ACG

If they have been in the DMP a long time (typically over 5 years) then they may get lucky but if less than say 3-4 years, you may find there are AR markers (arrangement to pay) all over the credit report. 
That to one side, some lenders also ask if arrangements have been made with creditors in the past and also other lenders are linked (RBS/Natwest for example, but they also did credit cards for Mint and Tesco) so you may find they have internal records going back further than 6 years. 

Dandytf

 said:

I pop onto these forums every now and then and often find lots of good advise. Having recently gone through the mortgage application process i thought i'd chip in to this as people are often quick to chip in opinions but most of the information is available online if you just search for it.

We went with Barlcays 2 months after my partner settled her DMP and sailed through to approval at 1.76% fixed for 5 years with no issues. The thing to remember is that a DMP is your solution to your adverse credit not the cause, they appear to only be interested in the cause of your perceived adverse credit such your default date, missed payments etc

I'd paste the link but the forum prevents me but if you Google "Barclays lending criteria" and follow the links to adverse credit you can read exactly what would exclude you being approved. I haven't checked but i would imagine most big lenders will have similar details published online to support brokers and individual applicants. I'd suggest getting key dates off your credit file and check against a few banks criteria to see if you would pass any

...This I'll use from. 2022-2025 SC DMP finishes End 22 -maybe 21 if I can Manage

https://intermediaries.uk.barclays/home/lending-criteria/residential/a-c/

Thanks for Barclays criteria suggestion