Will I get a morgage?

[dski75]

Hi All,

New to forums in general and not sure who can help or if I am even in right place ?

I have been in DMP with CCCS since March 2008 and started with debts of about £39k. Am down to approx £15k.

I would like some advice as am looking for a mortgage as FTB. Creditexpert file says fair credit score of 835.

I have a mixture of defaults showing on the report as well as "arrangment". Dates are all over the shop and only 2 are in line with when DMP started. 1 account is settled but date is wrong in terms of when arrangement started.
Natwest current account deafulted me but have continued to charge a huge amount in terms of charges and fees, interest etc and it actually twice what was orginally owing. Other creditors have been better and frozen chrages and interest so I can see how debts have come down.

Apologies for my long rambling post but any advice gratefull received :-)

[Never-In-Doubt]

Re: AAD's DMP advisor

I think with the amount of baddies showing on your credit report, you'll struggle to get a mortgage.

You'd be best waiting till your credit file is clear - this will be 6 years from date of default (the entry will drop off). The Arrangement to Pay markers will remain for 6 years since the last entry, so assume you pay the final payment in July 2018 - these entries remain until July 2024. Hence we say always best to get defaulted first, as you know no matter what that the entry will be gone after 6 years. AP markers leave the entry history for 6 years from date of last update after settlement and shows the previous 6 years history, so each year that passes a year of history will fall off.

I explained all this to another user, Missy if I recall - search their posts and you'll see it. Might be in the getting back on the credit ladder section

I would wait for now, don't apply as when you reapply you will be asked if you have ever been refused or declined a mortgage, not something you want to fib about and if you answer yes, then obviously the new firm will ask why!

[dski75]

Re: AAD's DMP advisor

Thanks so much for responding so quickly. Natwest account have been accepting payments under DMP since 2008 but didnt default me according to my credit file until 2009. Can I push for this to be amended ? Also, with the arrangement dates should they not be linked to when the creditor started accepting payments via a DMP ? Again, this would mean 2008 not 2010 or 2011 as they have put on my file.
I have managed my DMP well, increased my payments with each year and am on track to clear it by 2015.
I have sent a letter to RBS CEO ( check me out, have found my voice !) about the fact that NATWEST have been milking my situation and continually adding charges to the point where the debt is still over £4k but I essnetially have "paid off" the original amount of £3.8k (which is how much it was when DMP came into effect in 2008).
As you can see I get very into the detail but never know if what I am doing is right , wrong or indifferent.
If I could get the money to clear the balance would that help ? i.e. from a family member or am I best sitting tight ?

[IF]

Re: Will I get a morgage?

Hi dski75, I've moved your posts to your own thread

[IF]

Re: AAD's DMP advisor

I explained all this to another user, Missy if I recall - search their posts and you'll see it. Might be in the getting back on the credit ladder section

I think this is the section Nid is referring to -- > Sub-Prime Credit - allaboutFORUMS

[Never-In-Doubt]

Re: Will I get a morgage?

Ideally if you can screen print the main area of your report or PDF it and send me a copy I can probably help you get to the bottom of everything, likewise with natwest and their charges.

Did any products ever have ppi?

Lots of areas of improvement but really you'd be best listing things or email me a copy of your report, and we can go from there then.

However you won't get a mortgage for now, that's a certainty. They're just too fussy - they have to be. Sad but true I'm afraid.

So for now you might be best clearing as many as you can so that in 6 years you know you'll have no worries getting a mortgage plus you'll have a huge deposit in the 6 years extra saving pot

[dski75]

Re: Will I get a morgage?

Hi Niddy,

I have to say even having very little experience of actually posting on forums ( many a sleepless night reading them tho !) you have all been very helpful.
I think the Natwest loan that is now settled had PPI for about 2 years before I cancelled it and a couple of teh cards did too.

Do I just email you the whole PDF, sorry for being thick and mistrusting but I have never done that before !

[Never-In-Doubt]

Re: Will I get a morgage?

Hi

Got your PDF. Let me look into it and ill come back to you. Regards ppi, you can get that refunded which might clear the debts. I'll come back to you later. Need a beer just now - too hot!!

(Painting!)

[dski75]

Re: Will I get a morgage?

Enjoy your beer ! Good luck with the painting and my pdf !

I dont think I have records of the PPI anywhere, I checked recently.

Dski

[Never-In-Doubt]

Re: Will I get a morgage?

We do a SAR and get details of ppi. For now try and relax, I'll look at this later and reply via email due to the sensitivity

[SA Gold]

Re: AAD's DMP advisor

I explained all this to another user, Missy if I recall - search their posts and you'll see it. Might be in the getting back on the credit ladder section

Indeed it was! The link to the thread is here (bizarrely there appears to be posts missing?!)

dski75 - Take a look mate. Its not what you want to hear (it certainly wasn't what i wanted either), although main stream lenders won't give you a mortgage with defaults mate I know its hard to understand "their way" of thinking, but the bottom line is - they aren't interested in if you are paying some of it, or not (take a look at my signature) - When lenders see "default" it means this person breaks agreements.
However, this forum will definitely help you gain control of your creditors (you will soon realise its not quite the dictatorship they will have you believe) and get you where you want to be when it all drops off your credit file.

Cheers
Missy

[IF]

Re: AAD's DMP advisor

Indeed it was! The link to the thread is here
Cheers
Missy

In case you missed the link missy posted it's here -- > Settling with creditors - allaboutFORUMS

[dski75]

Re: Will I get a morgage?

Again big thanks all ! I have read most of the links you have posted, in between that annoying pastime of being at work

[SA Gold]

Re: Will I get a morgage?

Again big thanks all ! I have read most of the links you have posted, in between that annoying pastime of being at work

No problem. All the best with it, keep us posted

[dski75]

Re: Will I get a morgage?

Can I ask a silly question ? What does UE mean ???