Award-Winning Bad Credit Specialist · FCA No. 301173
Mortgage With a Debt Management Plan DMP Mortgage Specialist UK
A debt management plan does not automatically prevent you from getting a mortgage. Darryl Dhoffer explains exactly how lenders view DMPs and what is possible.
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FCA No. 301173
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Mortgages and Debt Management Plans
A Debt Management Plan or DMP is an informal arrangement between you and your creditors to repay your debts at a reduced rate. Unlike an IVA it is not legally binding and does not appear on a public register. However it does appear on your credit file and affects how mortgage lenders assess your application.
The key factors lenders consider are whether you are currently on a DMP or have completed one and how long ago it was registered. Specialist lenders do consider both active and completed DMP mortgage applications. Darryl Dhoffer knows exactly which lenders and what their criteria are.
Darryl Dhoffer — The Mortgage Geezer
20+ years in mortgages. Award-winning specialist. Featured in the Daily Express, FT Adviser and The Intermediary. I have helped hundreds of people across the UK who were told no by their bank — and I work with 65+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
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Frequently Asked Questions
Can I get a mortgage while on a DMP? ›
Yes but it is more challenging than after completion. Some specialist lenders will consider active DMP applications if you have been maintaining payments consistently and have a suitable deposit typically 25%+. Darryl will assess your specific DMP situation and identify the right approach.
Is it better to wait until my DMP is complete? ›
Generally yes. Once your DMP is completed and marked as satisfied on your credit file your mortgage options improve significantly. However if you are close to completion Darryl can advise on whether waiting or applying now is the better strategy for your specific situation.
How long after a DMP can I get a mortgage? ›
There is no mandatory waiting period after a DMP completes but most specialist lenders want to see at least 12 months of clean credit history since completion. The longer since completion the more options become available. After 3 years your options are significantly better.
Will a DMP affect my mortgage rate? ›
Yes. DMP history typically means higher rates from specialist lenders compared to standard products. However the rate improves as the DMP ages and your subsequent credit record stays clean. Darryl plans from day one how to improve your rate at remortgage.
Does the amount owed in my DMP matter? ›
Yes. Larger DMP amounts are viewed more seriously than smaller ones. Whether the DMP has been fully paid or partially settled also matters. Darryl will review your full DMP history and advise on how each lender will assess the amounts involved.
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No credit search. No obligation. Darryl personally reviews every enquiry and responds within 2 hours.
01234 237321
darryl@themortgagegeezer.co.uk
FCA No. 301173
47 Five-Star Reviews
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the FCA No. 301173. Your home may be repossessed if you do not keep up repayments on a mortgage.
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Lender criteria, rates and deposit requirements quoted on this page are indicative and subject to change without notice. Individual circumstances vary. This page provides general information only and does not constitute regulated financial advice. Darryl Dhoffer is authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Access Financial Services Ltd, registered in England No. 04427489. Your home may be repossessed if you do not keep up repayments on your mortgage.