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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Specialist lenders consider mortgage applications from Lincoln 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.
Lincoln borrowers come to us from across the city and surrounding Lincolnshire. We know the East Midlands specialist lender market well from our Nottingham base. 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.
Where this gets technical is lender appetite. One specialist lender will accept an active DMP of 24 months with a 15% deposit; another wants settled only; a third accepts active plans but weights the deposit requirement up to 25%. Nobody publishes this on their website. A specialist broker who places DMP cases weekly knows which lender fits which situation. The Lincoln property market, with its mix of city centre flats, Victorian terraces and surrounding village stock, has steady specialist lender appetite.
Free, no-obligation chat about your situation. No mark on your file.
We assess your file, income, deposit and property plans in full.
We target the lenders whose criteria fit your case first time.
We package, submit and manage the application through to completion.
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 upfront advice fees on most DMP mortgage cases. We are usually paid by the lender via a procuration fee once your mortgage completes.
The DMP itself is informal and is not registered as a formal insolvency, so it does not appear as a labelled entry. The defaults, missed payments and arrears that led to it almost certainly will.
The specialist DMP lender pool is smaller than the mainstream market but still measured in dozens of lenders, not a handful.
Most specialists want to see at least twelve months of maintained DMP payments before they will consider an active plan. Settled DMPs do not have this minimum requirement.
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.
Our office is in Nottingham, at Park Lane Business Centre, NG6 0DW. You do not need to visit. We help Lincoln DMP mortgage clients by phone, email and video, and we handle the application paperwork for you.
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.
Most mortgage applications verify income through payslips, bank statements and sometimes an employer reference letter rather than a phone call.
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.
