Remortgaging with a DMP

RB9090

Hi there - minefield here! I’m remortgaging however my partner now has a DMP in place. Does anyone know of anywhere that accepts mortgages with a DMP? I’ve phoned a few places and they have said they outright don’t ? Thanks 

Chris_English

This sort of query is likely to best be dealt with via an independent broker (not one tied to one bank) who knows which companies to approach. It’s worth asking around to get a local recommendation.

Suseka97

As has been said, you need to find an independent broker with experience in finding mortgages for people with an adverse credit history.  With that said, you should be able to switch with your current provider without any problems - I did that twice whilst in a DMP and achieved good fixed rates at the time.

You could head over to the Mortgages and Endowments section of the forum and see if you can get a recommendation for a good broker.

sourcrates

You have to keep in mind that a DMP in itself, is not recorded on your credit file.

Depending on how long the debt management plan is likely to last, and how soon payments were started to it, will more or less determine how your credit file is marked.

At worst, all that will show on file will either be defaults, or arrangement to pay markers ("AP") and as far as I am aware, most mortgage providers don`t ask if you have ever been in debt management, so a standard bad credit mortgage broker should be able to find you a reasonable deal.

sammyjammy

If you don't need to change the term/lending amount see what retention deals your current lender has, you cna usually view/switch these online.