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Mortgage previous adverse

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Redpanther89

9 Posts

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29/06/2021 - 2:05 pm

I will making my final payment towards my DMP next month , after which I will be debt free ! I have around 4 defaults still left on my credit file however all are settled and all are due to drop of by September this year after that my credit file will be clear. The only other issue is that I have taken out a few payday loans in the past with the last one being settled just over a year ago. None of these had any missed payments etc . I’m looking to purchase a property with my partner at the end of this year (after the defaults have dropped off). We have an ltv of around 60-65% and we are both in full time /permanent employment . What are chances of obtaining a mortgage .

Regards

David@SimplyAdverse

111 Posts

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29/06/2021 - 2:07 pm

Hi, thanks for getting in contact.

First of all well done on ending your DMP, I can only imagine what a relief that must be!

With the deposit available I fully expect a mortgage to be possible to you with the main focus being on how competitive the deal is rather than whether or not you can actually get a deal.

We'll be glad to help when the time comes.

Redpanther89

9 Posts

(Offline)

29/06/2021 - 2:07 pm

Thanks for your response , do you think high street rates could be possible ? To increase our chances of getting a competitive offer do you think it would be better to wait until after September to start applying (once the defaults have dropped off) or could it be possible sooner ?

Thanks
D

David@SimplyAdverse

111 Posts

(Offline)

29/06/2021 - 2:07 pm

It will always come down to exact details however with the age of the credit issues and size of the deposit I believe you have a chance at High St rates.

Redpanther89

9 Posts

(Offline)

29/06/2021 - 2:07 pm

Thanks , that’s definitely reassuring .I just though that with the payday loans settled just over a year ago , that this would affect our chances ! Like I said none of them have any missed payments .

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