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advice from brokers please
morgan78_2
Posts: 95 Forumite
ok situation is just started my dmp on me own after coming off with the cccs have 5 defaults between me and missus parents have offered to give us some money so am going to settle all creditors in january total of £25k
we currently have a mortgage of £60k on a propert valued at £120000 17 years left to run, we need to move as nowhere enough space with kids etc, saw a house for £210000 probably would accept £200000 i earn £26000 a year wife £14000 plus our deposit and we dont mind doing the mortgage over 25 years what are our chances and if u have any advice will be appreciated
we currently have a mortgage of £60k on a propert valued at £120000 17 years left to run, we need to move as nowhere enough space with kids etc, saw a house for £210000 probably would accept £200000 i earn £26000 a year wife £14000 plus our deposit and we dont mind doing the mortgage over 25 years what are our chances and if u have any advice will be appreciated
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Comments
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Morgan there are no lenders who will lend to you at 75% ltv whilst in a dmp and with that amount of defaults im afraid. I would say keep paying down your mortgage in order to put yourself in a better position for the future.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Seriously, hold tight! Maybe sell and rent larger and get rid of your debt and start over!"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00 -
hiya tmsl no all the defaults will be settled in january i know they will stay on my file but all be paid off in january0
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Sorry to say that there is no one out there at the moment who will do this for you, would love to able to tell you otherwise.Happily an ex mortgage broker!0
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