Help with Credit after DRO

Boo13

Hi I got a debt relief order in May 2009. I got my credit file off experian online and nothing shows up it's says good and my score was 900 or something.

I went to Halifax with my partner to apply for a mortgage and I was rejected due to the DRO on my credit record.

When will I be able to get a mortgage and how should I improve my credit in the mean time? Also which credit report is correct and will show it as the bank saw it?

Thanks x

Tixy

Hi
There is no one correct credit report. There are 3 credit reference agencies and a potential lender can search any or all of those reports (for a mortgage likely all 3).

They are experian (also branded as credit expert), equifax and callcredit (aka noddle).

Ignoring the score - what actually shows on your credit file? did you do a post DRO clean up of your files, that is check that all accounts from the DRO show there is no balance outstanding and check the defaults were no later than your DRO date).

Getting a mortgage with a DRO still visible on your credit file will be tough. It may be possible with some lenders if you have a decent sized deposit, I'd suggest contacting an independant mortgage broker and seeing if they think its likely you will get a mortgage at the present time.

CKhalvashi

I've seen those with BR on their files get a mortgage after 3 years, with 40% deposit, so I'd say that aiming in this region would be reasonable.

CK

Boo13

Hi

No I haven't done a clean up on my files this was the first time I looked, the only credit account it shows is my current account.

Do u have to wait 6 years from when the dro started or 6 years from when it was finished?

Thanks

CKhalvashi

Boo13 wrote: »

Hi

No I haven't done a clean up on my files this was the first time I looked, the only credit account it shows is my current account.

Do u have to wait 6 years from when the dro started or 6 years from when it was finished?

Thanks

No default date should be after the start of the DRO, so 6 years from day it started is correct answer.

CK