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 Nottingham 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.
Nottingham DMP borrowers come to us from every part of the city, West Bridgford, Beeston, Arnold, Carlton and the wider conurbation. We are a Nottingham-based specialist mortgage broker, so your case is handled locally, by advisors who understand both the East Midlands property market and the specialist lender appetite in this region. A debt management plan is an informal agreement with your creditors, usually arranged through a provider like StepChange or PayPlan, to pay back what you owe at a reduced monthly rate. The DMP itself is not registered as a formal insolvency, so it does not appear on your credit file as such, but the defaults and missed payments that led to it almost certainly will.
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. A high street first application that gets declined adds a search mark and makes the next lender harder to persuade, so case placement matters.
We talk through your situation and goals. No obligation, no credit mark.
We assess the specifics and everything else lenders will want to know.
We target the specialist lenders whose criteria fit your case.
We package the case, submit it and guide you through to offer.
Adverse credit mortgages are not a sideline for us. Cases involving CCJs, defaults, IVAs, DMPs and bankruptcy discharges are a core part of what we do, and we have helped thousands of clients through them.
You will work with qualified, named advisors who explain things honestly, including when the timing is not yet right. We would rather give you a straight answer than send you towards a rejection.
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, and those are what lenders assess.
In many cases, yes. Specialist lenders consider mortgage applications from borrowers on an active debt management plan, provided the plan is being maintained and the rest of the picture fits. High street lenders usually decline during an active DMP. Acceptance depends on your deposit, your conduct and your underlying credit file.
The specialist DMP lender pool is smaller than the mainstream market but still measured in dozens of lenders, not a handful. Which of them fits your specific case depends on deposit, LTV, conduct and the underlying credit file.
Shared ownership can be an option with some specialist lenders for borrowers on a DMP, usually with a strong deposit and a well-maintained plan. Help-to-buy as a scheme has ended for new buyers, but shared ownership and other low-deposit paths are worth exploring.
Most mortgage applications verify income through payslips, bank statements and sometimes an employer reference letter rather than a phone call. Employer contact, if it happens, is standard practice and does not single out DMP cases.
No upfront advice fees on most DMP mortgage cases. We are usually paid by the lender via a procuration fee once your mortgage completes. Any case where a client fee would apply is agreed with you in writing before any work starts.
A DMP is an informal arrangement with your creditors; an IVA is a formal insolvency recorded on your credit file and the Insolvency Register. Lenders treat them differently. IVA cases often need longer post-discharge timescales. DMP cases can be considered during the plan with the right lender.
Our office is in Nottingham, at Park Lane Business Centre, NG6 0DW. You do not need to visit. We help Nottingham DMP mortgage clients by phone, email and video, and we handle the application paperwork for you.
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.
