Mortgage and Bad credit rating

donatello_2

Hi,

I have 6500 of debt which I am paying off through an interest free debt management plan, estimated time is about 18 months to pay it off. I do have one default notice from one of the creditors, not through missing a payment, but because I'm on a plan which they see as not sticking to the original agreement. I have not defaulted on anything else for a good few years.

My partner owns her own house and thinks that she may have 20,000 equity in it. A family member has offered to give me 20 000 which can be used to invest in property. This would mean a combined 40,000 deposit for a new house. Our thinking is we could buy somewhere bigger (than my partners current property) now for a good price. My partner may not get the best price for her house, but proportionally she would be make more money on a bigger house in the future.

What do you think, considering I am on a debt plan? Could this affect the rate we get? My partner has a sound credit rating.

Any advice appreciated.

Many Thanks