A plethora of changes in the mortgage market and the associated regulations have resulted in lenders becoming increasingly strict as to when they will approve people for mortgages.
A debt management plan (DMP) is a repayment arrangement between you and your creditors covering non-priority debts such as credit and/or store cards, loans, overdrafts and other agreements such as mobile phone contracts.
There are lots of reasons why people don't have a credit history. Many savers who have carefully avoided taking out credit cards are dismayed to find that they can't get the mortgage they've been saving for - because they haven't been using a credit card!
Although a lack of credit might seem like a good thing as you don’t owe anything to anyone, it can actually become a negative if you’re trying to take out a loan or mortgage without a credit score.
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