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credit file affected..if sell up and start again
March2012
Posts: 487 Forumite
how quickly can you buy a house again if you clear all your debts? thanks
0
Comments
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What are you defining as a "debt?"
Are we talking about a credit agreement being settled, or are we talking about court judgments, defaults, IVAs, repossession, bankruptcy etc?
Answered on cross post on HBR&S too.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
thanks for any inputkingstreet wrote: »What are you defining as a "debt?"
Are we talking about a credit agreement being settled, or are we talking about court judgments, defaults, IVAs, repossession, bankruptcy etc?
Answered on cross post on HBR&S too.0 -
If you have no adverse credit, you do not have to wait.
You simply note on the mortgage application that your credit commitments are to be repaid on completion and the lender should ignore them for affordability purposes.
You should, of course, ensure you have sufficient funds left over for your deposit and for payment of any moving costs/fees.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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