DMP paid off is a mortgage possible?

Djellusiv

Thrugelmir wrote: »

Ask yourself why the same lenders that have written debt should now lend you money?

You've managed to save a sizable sum of money despite being on a DMP. Something which won't go unnoticed.

Granted but in my defence I have Paid off the plan 7 years early & the deposit has come from royalties from work done in the past which are now paying out!

Thrugelmir

Djellusiv wrote: »

Granted but in my defence I have Paid off the plan 7 years early & the deposit has come from royalties from work done in the past which are now paying out!

Personally I have empathy. I merely wear a lenders hat.

Writing off debt is a loss to the lender. Repaying early merely means your sentence ends earlier.

Simon_gloster

Djellusiv wrote: »

Thanks Dave
Really just want to be able to tell my wife where we stand & try and put it all into perspective as things got a little tricky when our finacial advisor left & the change over hasnt gone to smoothly, so will try Halifax & hope lady luck is on our side & like you say I could look at other options

There are lots of positives here DJ, but as echoed I am sceptical of Halifax's mortgage promise.

The only way you are going to be able to get closure on ' can we? Cant we ' is to make a full application. This will mean paying fees etc

Halifax would have done their hard footprint on your credit files at that point.

Oh and the small matter of making an offer on a property for the application needs to he done.

Big leaps needed.....if i'm honest.

I will repeat for you, aip's from Halifax are not worth the paper they are written on....they can and do flip fron accept to decline on full app.

Thrugelmir

Simon_gloster wrote: »

I will repeat for you, aip's from Halifax are not worth the paper they are written on....they can and do flip fron accept to decline on full app.

With a clean credit record then the chances are extremely high.

At the outset negative information may not be detected.

So in many instances they are worthwhile.

Djellusiv

Oh and the small matter of making an offer on a property for the application needs to he done.

Thanks Simon
Not exactly sure what happens with part buy part rent we have been
Excepted for the property & estate agents have put sold sighns up!
No body else has been excepted as the required application was so tight it's only a tiny village & had to of lived there for 3 years worked for a minimum of a year! Local connection etc, forgive my lack of understanding on the next stage! Hopefully as there is no chain etc shouldn't be as complicated I believe it can get!

Dave_Ham

Should be simple - hey if everything was..

There will no doubt be a few other "stresses" when buying a new build on shared ownership, but a good solicitor should protect you from worrying about these.

Keep us updated - good luck

Djellusiv

Something we are finding out estate agents put the wrong cottage on the paper work so it took three weeks to get accepted for the wrong property! Would understand if it was a large estate but two cottages.? Then the hassle with advisor leaving & new one saying he wasn't able to access the previous advisors files, so then applied again to the Halifax for a principle offer that's twice In 3 weeks! We have a family friend who is a solicitor who will do everything in his power to get things moving as smoothly as possible, but at the moment it's all down to us & getting the offer!

Dave_Ham

The Halifax AIP is only a soft print so do not worry hugely about this, although I do worry about the lack of continuity and potential experience level of those involved.

In terms of timescales, subject to having all of your information it should take an advisor no longer than half a day to get the application in - and I am being generous to the advisor.

You should get an immediate decision and then they may well request additional information.

Good luck