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Industry News: Can you get a mortgage if you’ve had debt management plans?

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Precise Mortgages

Debt management plan (DMP)

“We don’t believe a credit blip in the past should stop your customer from getting the mortgage they need today, especially if they’ve taken action to get their finances in order by entering into a DMP arrangement. We assess every application we receive on” Click to read original article >>>

This article posted directly by Precise Mortgages outlines their terms for clients who have or have had Debt Management Plans (DMP). In summary:

  • Precise Mortgages offers mortgage products for customers with DMPs.
  • Mortgages are available up to 85% Loan-to-Value (LTV) for those with DMPs.
  • DMPs active for at least 12 months are considered; they don’t need to be repaid on mortgage completion but are included as monthly commitments.
  • For active DMPs, Precise Mortgages requires evidence of payment in line with the plan.
  • For DMPs satisfied less than 36 months ago, confirmation of full repayment is needed.

If that’s something you thought was off limits for you, get in touch we would be happy to talk you through the details.

Author: Stuart Phillips

Author: Stuart Phillips

Fully CeMap qualified, Directly Authorised by the FCA and with over a decade of experience, Stuart has a wealth of experience in both specialist BTL and residential mortgages.

Need help with Debt Management Plans?

Here at AALTO Mortgages we have extensive experience with Debt Management Plans. Click below for contact options , or call now on 020 7183 1101 to speak with an experienced broker.
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