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Can't get a mortgage because of past debt management plan

9 replies

plugin12 · 17/03/2023 17:41

Can't get a mortgage in principle because of my partners previous debt management plan he cleared 3 years ago , he had no missed payments while on the plan , last application with London and Country and they have forwarded our details to another company that deals with those with adverse financial situation.

Has anybody secured a mortgage offer when they have previously had a debt management plan ?

Any advice ? Thanks !

OP posts:
Soontobe60 · 17/03/2023 17:51

My friend had this problem, so she bought a really cheap house in her name only then when the debt had been cleared for 6 years, they bought a house jointly.

EmpressaurusOfCats · 17/03/2023 18:31

Yes, everything gets erased when you’ve been clear for 6 years.

housemaus · 17/03/2023 18:50

There are certainly lenders who'll take someone with a past DMP - especially one cleared 3 years ago and if no other issues (complex income sources, other debts, etc) - the specialist mortgage broker will find someone!

Kimberz · 17/03/2023 18:57

I had a DMP.

It ended in 2015 or 16 and we purchased our house in 2018.

Asummersday · 17/03/2023 19:01

Just got a mortgage with Kensington mortgages with my dodgy credit history xx

plugin12 · 17/03/2023 20:11

thanks everyone ! no other issues since the DMP and we both have very good credit scores , I can't get a mortgage myself as I am not currently working but I do own the house we live in now with no mortgage , so we will be getting a relatively small mortgage of less than half the deposit amount we will be paying.

OP posts:
sjnzimsm · 17/03/2023 20:13

We had the same issues, partner had awful credit history that would be on file for years and got a mortgage with Aldermore

Paddingtonthebear · 18/03/2023 09:08

Previously settled a DMP in 2019 and we got mortgage offers with several high street banks with no problem, through a normal mortgage broker.

Paddingtonthebear · 18/03/2023 09:34

Last year that was

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