Mortgage advice

[Warwick65]

I’ve recently been looking at mortgages and want some advice.

I had a lot of debt and went into a DMP. Later I stopped all payments and went down the UE route. My credit file is clear and I have no trouble getting credit cards etc.

A recent ‘agreement in principle’ form asked the usual about BR IVOs and CCJs within the last 6 years but then asked if I had ever been in an arrangement with my creditors.

Is this going to mess things up? My credit file has several years of good management and 0 defaults or late payments.

Any thoughts?

[PlanB]

I had a lot of debt and went into a DMP. Later I stopped all payments and went down the UE route. My credit file is clear and I have no trouble getting credit cards etc.

A recent ‘agreement in principle’ form asked the usual about BR IVOs and CCJs within the last 6 years but then asked if I had ever been in an arrangement with my creditors.

Is this going to mess things up? My credit file has several years of good management and 0 defaults or late payments.

You've raised a topical point which was reported on the BBC yesterday naming and shaming banks who were not offering mortgages to self-employed who had claimed the Government grant and/or people who had been furloughed no matter how squeaky clean their credit file is.

It also raised the issue of whether people who'd taken mortgage payment holidays due to Covid-19 should be refused new mortgages or remortgages.

BBC link > https://www.bbc.co.uk/news/business-57843756

I think if you've got as far as a DIP or AIP there's hope, but I'm not happy with the question have you "ever" been in an arrangement because I feel there should be a cutoff point as with criminal records etc.

Maybe it's a way of referring to Debt Relief Orders and/or new schemes such as the Government's Debt Respite Scheme - Breathing Space which I posted about here > https://all-about-debt.co.uk/forum/d...reathing-space

How long ago did you stop paying via the DMP?

Di

[Timewilltell]

I must say being in a position of looking at a mortgage, I had been offered in principle a mortgage only for the bank to say it relied solely on me not taking any further Seiss grants , unfortunately I had to take one more and now it seems it’s scuppered my chances!!

not bad considering Boris did say at the outset that COVID would not impact anyone financially! But seriously this just shows how corrupt the banking system is, I can have numerous Credit cards Loans etc and still be offered a mortgage but have a government grant and woe be tide how dare you ask for a mortgage? Please explain.

[Warwick65]

I stopped my DMP late 2011 or early 2012. Problem is I think certain banks still have a mark against my name although I bank with virgin money and the coop and have credit cards with HSBC, Barclaycard as well as my main banks

[Timewilltell]

Where are these marks? If they’re not on your credit file?

[Warwick65]

I am guessing internal records. For example I can’t get a credit card with Mbna or NatWest for love nor money. Same with Halifax.

[frasheron]

Hi! I think you need to be very careful with a mortgage. And before making a decision about mortgage lending, you need to contact a good specialist. I once also had problems with my credit history and I was also worried that I would not be able to get a mortgage. My work colleague advised me to contact Mortgage Advice Essex before making a decision. They studied my documents and gave recommendations, as well as engaged in the registration of documents. The mortgage was approved for me and we have been living in our house for a year.