Getting a mortgage with a settled dmp

scotty9107tom

Hi there, me and my partner are looking to get a mortgage next year, I need some advice though, I'm 3 years into a dmp with £10000 remaining, I've just received £5000 through a share save scheme, I could potentially pay off my DMP by the end of this year, my question is should I offer a partial settlement to my lenders and get it paid off sooner and save more for a deposit, or shall I pay the full amount by the end of the year? I'm not sure if a partial settlement effects my chances of getting a mortgage more than a full settlement? Or whether it doesn't make much difference as the 4 creditors have defaulted my debts anyway? 

Thanks in advance 

ACG

It is unlikely there will be much difference in your options if you offer a full and final settlement figure.