DMP - Mortgage Options

APAR92

Good Afternoon. 
I am due to complete on my DMP in the coming months and wondered if any one new how me and my partner can go about getting a mortgage?
My credit rating is poor due to the DMP but my partners is great, she has the deposit covered but her if the banks will only consider her salary we will struggle to get a property anywhere near where we work. 
We have read so many conflicting statements and wondered if anyone could shed some light before we see a mortgage advisor. 
Many Thanks

EimearF

A mortgage advisor will be best placed to tell you which lenders are more likely to accept both of you. Go to a whole of market advisor not one in a particular bank 

APAR92

APAR92 said:

Good Afternoon. 
I am due to complete on my DMP in the coming months and wondered if any one new how me and my partner can go about getting a mortgage?
My credit rating is poor due to the DMP but my partners is great, she has the deposit covered but her if the banks will only consider her salary we will struggle to get a property anywhere near where we work. 
We have read so many conflicting statements and wondered if anyone could shed some light before we see a mortgage advisor. 
Many Thanks

I think I missed the point in my question.
Is it correct that I may be able to get a mortgage as when I started the DMP I was under the impression that I was un-mortgageable for 5 years upon completion? 

Thanks 

Willing2Learn

APAR92 said:

Is it correct that I may be able to get a mortgage as when I started the DMP I was under the impression that I was un-mortgageable for 5 years upon completion? 

You can get a mortgage with adverse data recorded on your files.  You would simply need the services of a good mortgage broker.  You don't need to wait five years. 

MovingForwards

You can potentially get a mortgage after being on a DMP for 12 months, provided it's been paid on time, no missed payments etc.

Ignore the rating provided by the credit reference agencies, it's not seen or used by a financial institution. The content is seen eg late / missed payments, defaults, CCJs, bankruptcy, IVA, payday loans etc.

A good whole of market mortgage broker will ask for copies of all your credit files, ask you to complete a fact find form, ask you to explain what caused you to enter a DMP and possibly some other questions to see things have changed for the better. With all that information, they will pick the right lender(s) for you.

The payment you make to a good broker is worth every penny and is the difference between getting a mortgage or not.

The wrong broker could set you back several months.

Nothing stopping you finding a broker now, having a good chat with them, finding out your options and going for it or waiting a few months.