anyone think we will get mortgage

michelle1985_2

hi we are looking at buying a house first time buyers. we have seen on that is up for £84950 and we are looking at offering the most 79000. my partner is on 24k a year and i dont have any income. we will have 10% deposit but my partner is on a dmp where he pays £220 a month. th mortgage will be cheaper than the rent we pay so we can afford it and will probably be able to pay extra to the cccs then for dmp plan but with him been on that will it affect us been able to get a mortgage. we also have 1 daughter

Conrad

Michelle, if a lender picks up and missed payments in the last 6 years, you will probably be declined I'm sorry to say. I assume there could have been some late payments as you BF is on a DMP.

In the past, adverse credit mortgages were widely available, but those tomes have long gone.

Sorry

michelle1985_2

he hasnt missed payments we were just really struggling with all the payments and no money left over for basic things for ourselves so he had to go on one of them.

Robert_Sterling_3

It does not look very promising to me.

michelle1985_2

ok thanks anyways

Conrad

Michelle from a lenders point of view he entered a DMP as he was struggling to make the costs as you say, so a mortgage underwriter will almost certainly not want to get him into even more debt.

A DMP, if picked up by the lender will be an outright decline anyway

Best if you try again in a few years I think

michelle1985_2

ok will probably wait till next october 2010 as i get some money through then so we will have a larger deposit then

Trying_to_be_good

Michelle

Do as you say - keep saving, and keep improving your credit files. Good luck.