Remortgaging and self managed DMP

InAPickle76

Hi everyone 

I have posted on the Debt forum but was advised to post on here.

Hoping for a bit of advice. We are looking to remortgage as we are with The One Account and the interest seems to be going up every month!! We had a DMP back in October 2014 originally with StepChange then went self managed about 3 years ago which is all going really well.

My concern is that when the mortgage company asks for the past 3 months' bank statements it is going to show all the payments to the creditors (we have 8 in total paying £5 per month) even though the defaults have all dropped off our credit files and our credit scores are now excellent. 

Is there anything we can do?? I just feel that this DMP is still haunting us way down the line and will continue to affect our chance of securing a better interest rate with another mortgage provider.

Many thanks for reading

ACG

From a mortgage perspective, its treated the same as an arrangement to pay. I spent days looking into this once and nobody had ever heard of a self managed DMP (lenders, brokers etc). 

I dont know why CAB started to call it a self managed DMP, it just makes things worse for people. 

Depending on your credit report, the lenders involved and a few other things, you might be looking at normal rates. Get your credit report over to a broker.