Debt Management Plan (DMP) Range

Dedt Management Plan Range

DMPs are non-binding agreements between an individual and their creditors to repay debts. The DMP provider works out what the individual can afford to pay and negotiates with their creditors to agree a payment plan. Once this is agreed the individual makes the payments to the DMP provider who distributes this to the creditors as agreed. Find out more by reading our Debt Management Plans Explained article.

Our DMP range is available for Residential clients only.

The finer details

Tick
  • The DMP can be active or satisfied in the last 12 months
  • Your client must have been in the DMP for at least 12 months and able to provide proof of satisfactory payments from the DMP provider
  • An active DMP doesn't have to be repaid at completion
  • For remortgages, capital raising can be considered to clear the DMP
Cross
  • Your client must not have more than one active DMP (we'll only consider one active DMP per application)

Pepper24 DMP

Suitable for clients that haven't had a CCJ or Default in the last 24 months

  2 Year Fixed

Reversion Rates

(Libor +)

LTV Initial Rate Comp Fee
75% 3.48% £1,295 4.60%
80% 3.78% 4.85%
85% 4.03% 5.10%
 ERC 3%, 2%  
CCJs/Defaults 0 in 24 months
Mortgage/Secured Arrears

0 missed payments in 24 months (max arrears status of 0 in last 6 months)

Pepper18 DMP

Suitable for clients that haven't had a CCJ or Default in the last 18 months

  2 Year Fixed

Reversion Rates

(Libor +)

LTV Initial Rate Comp Fee
75% 3.78% £1,295 4.90%
80% 4.33% 5.15%
85% 4.48% 5.40%
 ERC 3%, 2%  
CCJs/Defaults

0 in 18 months (max 3 in 36 months. Only 2 allowed in months 19 to 24)

Mortgage/Secured Arrears

2 missed payments in 36 months (max arrears status of 0 in last 6 months; no missed payments in last 18 months; 1 missed payments in months 19 to 24) 

Pepper12 DMP

Suitable for clients that haven't had a CCJ or Default in the last 12 months

  2 Year Fixed

Reversion Rates

(Libor +)

LTV Initial Rate Comp Fee
75% 4.23% £1,295 5.05%
80% 4.73% 5.30%
 ERC 3%, 2%  
CCJs/Defaults

0 in 12 months (max 3 in 24 months. Only 2 allowed in months 13 to 18)

Mortgage/Secured Arrears 2 missed payments in 24 months (max arrears status of 0 in last 6 months; no missed payments in last 12 months; 1 missed payments in months 13 to 18)

Submission instructions

When submitting the case on our application portal you'll need to confirm if your client is currently in a DMP on the Loan Details screen in order to ensure the correct products are presented.

When the DMP is active please enter all the contractual payments, including those covered by the DMP, in the Commitments section as you would in a standard application. If the DMP will be satisfied on completion mark them as "to be repaid".

If your client has satisfied their DMP in the last 12 months then this will be picked up during the soft credit search and the DMP range will be presented.

 

Additional documents

As part of any DMP application we may need a couple of additional items to be submitted:

  • A DMP Supplementary Information Sheet - this is a breakdown of the creditors covered by the DMP. This is for you to complete and upload to the application. (Only required for active DMPs)
  • A reference letter from your clients' DMP provider on their headed paper. This will also need to be uploaded to the application. (Required for both DMPs that are active or have been satisfied in the last 12 months)

We've included a template for the letter to send to the DMP provider with the DMP Supplementary Information Sheet.

 

More information

We've included more details about our approach on our Debt Management Plan FAQs page. 

Ready to submit a case?

Before you can submit a case to us directly you'll need to register.

Download Supplementary Info Register Log in

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