After clearing debt, how long to wait before applying for mortgage?

changes

Hi,

Once credit card debt (25k) has been paid off, can anyone advise how long you should really wait until applying for a mortgage?

Debt repayments were always met and no defaults/missed payments ever occured. It was simply a large amount of debt for the past 4 years which is now due to be cleared thanks to an inheritance. It has been decreasing over the years and minumum payments were always met.

I know mortgage lenders will base decisions from the credit report and we're wondering how it will affect us.

Thanks

getmore4less

DEPOSIT?

Well managed debt should not be a big problem if it has all gone.
Keep a CC going with pay off in full.

You still need a deposit bigger the better and good income multiples.


You need to be sure that the things that got you into debt are history and not going to repeat.