Mortgage & Poor credit

Nut97

Hi,


I took a DRO out in May 2010, I currently have 2 credit accounts, one which is with Barclay Card with limit of £500 and the other of a online clothing supplier for £400, none of which I have outstanding debt on. Checked by Experian report and says 'good' with a score of 806, but from reading a number of posts I believe this doesn't have any great bearing with the defaults on the file?


My basic salary is £20k PA, but with bonus I earn closer to £30K, house prices around the area I am looking to buy are £80-90K and by November this year I will have £20K saved for a deposit.


Would this be possible via a broker? Any pointers or guidance would be grateful accepted.


Thanks

Nut97

Any views / personal experience? or is it as I fear and not a snowballs chance in hell

wrkactjob

Nut97 wrote: »

......house prices around the area I am looking to buy are £80-90K....... Thanks

:shocked::shocked::shocked:

Where is that?!

Nut97

wrkactjob wrote: »

:shocked::shocked::shocked:

Where is that?!

South Yorkshire and not bad houses for that, granted they will need new bathrooms and kitchens but compared to else where in the UK it is a steal :money:

ACG

Just remind me - DROs they only last a year dont they?

I would say with your deposit being 25% ish and only 3x income you are looking to borrow, there will be a lender for this but i would suggest you speak to a broker as not all lenders are going to be happy to accept.

Nut97

ACG wrote: »

Just remind me - DROs they only last a year dont they?

I would say with your deposit being 25% ish and only 3x income you are looking to borrow, there will be a lender for this but i would suggest you speak to a broker as not all lenders are going to be happy to accept.

Hi ACG, that's correct one year and then the normal 6 years on the credit file.

ACG

Dont hold me to it, but i think you will be able to get a mortgage if that is the only issue.