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Mortgage after DMP
everton09
Posts: 34 Forumite
Hi.
I have just paid off my DMP 5 years early after a big change in financial circumstances. I earn £30000 a year. Can you tell me how long I will have to wait before I can get a mortgage ? I have a deposit and my partner will be a joint applicant and earns £28000 a year.
Many thanks
I have just paid off my DMP 5 years early after a big change in financial circumstances. I earn £30000 a year. Can you tell me how long I will have to wait before I can get a mortgage ? I have a deposit and my partner will be a joint applicant and earns £28000 a year.
Many thanks
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Comments
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How much deposit do you have saved up and what kind of property value are you thinking of?0
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There is no fixed timescales, it will depend upon a host of variables.
When and how long ago were defaults applied?
How does the DMP manifest itself on Experian, Equifax and Call Credit?
What % is the deposit of purchase price?
Why did you get into the DMP and why is now different?
Where did the deposit come from?
That is just for starters, but some food for thought..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
the dmp lasted 3 years as I had a messy divorce. I have met a new partner and by selling his house we have a 20% deposit. We need a 75% ltv mortgage whixh will have to be joint. was just wondering if there was a ball park time scale ?0
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Ok, on these credit files; the default date is all important.
Assuming these are all over 2 years, you will have options although these are unlikely to be on the highstreet.
Once the defaults are 6 years old, you will open the highstreet lenders back up.
Your deposit gives you options now...
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
If you have a 20% deposit, then you will need an 80% LTV mortgage."You were only supposed to blow the bl**dy doors off!!"0
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sorry meant 25%0
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