SPECIALIST ADVERSE CREDIT MORTGAGE ADVICE
Worried your credit history could affect your mortgage? Our specialist advisers can help you understand your options.
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Choose the option that best fits your situation.
An approximate answer is absolutely fine.
This helps the team understand where you are in the process.
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Specialist lenders consider mortgage applications from Chesterfield borrowers on an active or settled DMP every week. The question is which lender fits your specific picture: the age of the plan, the underlying credit entries, your deposit size, your income stability and whether the plan is well maintained. A specialist broker does that matching.
Chesterfield borrowers come to us from across the district, from the town itself through to Dronfield, Clay Cross and the surrounding Derbyshire villages. Most people on a DMP arrange it through a free provider like StepChange, PayPlan or CAP, reducing their monthly debt payments while they work through what they owe. The plan itself is informal and not a labelled entry on your credit file. The underlying defaults and arrears from before the plan started will be, and those are the entries lenders look at.
Specialist lenders take a nuanced view of DMP cases. They look at how long the plan has been maintained, whether it is active or settled, how the underlying defaults look today, and how clean your conduct has been over the last twelve months. The Chesterfield property market, with its varied housing stock from Victorian terraces to modern estates, has broad specialist lender appetite.
A no-obligation conversation about where you stand. Soft search only.
We work through the full picture, including what lenders will ask.
We match your case to the specialist lender whose criteria you fit.
Application, offer, and coordination with solicitors and surveyors.
Specialist mortgage cases are our main work. CCJs, defaults, DMPs, IVAs, bankruptcy discharges, non-standard income, complex employment, non-standard construction. The cases high street lenders decline are the cases we see every week.
Clients get qualified, named advisors and honest advice on where they stand. That includes telling you when the right call is to wait, which is a conversation we have regularly.
No. An initial conversation and a look at your situation is a soft enquiry and leaves no mark on your credit file. A hard search only happens later, with your permission, when you formally apply to a specific lender.
Potentially. Settling a DMP early moves you from active to settled status, which opens more lenders and better rates. Whether it is worth doing depends on how much you still owe and your timing.
Specialist remortgages for borrowers on an active DMP are possible, usually subject to the plan being well maintained and the equity position supporting the deal.
Buy-to-let on an active DMP is harder than a residential, but specialist buy-to-let lenders will consider it, usually with 25% or more deposit and a strong rental coverage ratio.
Deposit requirements vary by lender and situation, but 15% or more opens meaningful specialist options and 25% or more opens the strongest ones. The larger your deposit, the better the rates and the wider the lender pool.
Yes, specialist lenders consider cases where both applicants are on DMPs. The deposit requirement tends to be higher and the lender pool narrower, but it is possible.
Specialist mortgage rates tend to sit above mainstream rates because lenders price for the additional risk. As the DMP recedes into the past and your credit conduct stays clean, remortgaging onto a better rate later is often possible.
Nothing changes on the mortgage itself. When the DMP settles, you may be able to remortgage onto better terms, as settled DMPs open a wider lender pool and more competitive rates.
A short, free conversation is the quickest way to find out where you stand. No pressure, no jargon, and no mark on your credit file.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
My Mortgage Specialist Ltd is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1002905, an Appointed Representative of TMG Direct Limited (FRN 786245) which is authorised and regulated by the Financial Conduct Authority. The guidance contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Some types of buy to let mortgages are not regulated by the Financial Conduct Authority. As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayments.
