Mortgage after DMP

kinsae112

Hello,


I can coming to the end of a DMP (DEbt Management Plan) which was set up in 2009. There were 6 creditors, all but 2 of these accounts are now settled and paid off. The final 2 will be paid their final monies by Sept/Oct 2014 and look forward to being debt free. there were defaults on the account and 1 CCJ with Nationwide.


Considering the above, is it all possible to obtain a mortgage to buy a house with my husband? We cant afford to buy where we live so looking at changing schools etc, to purchase a house in region of £300k, deposit of £50k, joint salary of £100k. My husband wont get a morgtgage of that amount on his own income so we're looking at a joint application.


What are our chances of getting a joint mortgage, given my credit history?


Thank you

Westminster

The dates of the defaults and CCJ will be very important - when were they?

ACG

You need to get your credit reports.

Show them to a broker, there could be a couple of lenders who will do this, likewise there could be none. The date of the CCJ is important but going off the DMP being from 2009 im assuming it is quite old.

I do think this could be possible but it really will come down to how everything appears on your credit reports.

kinsae112

Westminster wrote: »

The dates of the defaults and CCJ will be very important - when were they?

The defaults were approx. July to Sept 2009, the CCJ was Sep 2010 and settled/discharged Jun 2013.

kinsae112

ACG wrote: »

You need to get your credit reports.

Show them to a broker, there could be a couple of lenders who will do this, likewise there could be none. The date of the CCJ is important but going off the DMP being from 2009 im assuming it is quite old.

I do think this could be possible but it really will come down to how everything appears on your credit reports.

The CCJ was Sep 2010 and settled/discharged Jun 2013. Thanks

ACG

Speak to a broker, there will be lenders for this.

I dont think your going to get a high street lender to do it but rates should not be too bad.

Thrugelmir

Where's the deposit coming from?

kinsae112

ACG wrote: »

Speak to a broker, there will be lenders for this.

I dont think your going to get a high street lender to do it but rates should not be too bad.

Good to know, thanks. I'll remain optimistic

kinsae112

Thrugelmir wrote: »

Where's the deposit coming from?

Redundancy payment plus potential sale of a property I jointly own with a family member. Why?

Thrugelmir

kinsae112 wrote: »

Redundancy payment plus potential sale of a property I jointly own with a family member. Why?

Lenders let's say will be cynical. At the least cautious. Particularly with a £100k of household income. The number of people who stretch out DMP's and settlement of debts in general. Then have the funds for a property purchase within days of paying off their debts. Never ceases to amaze me.

kinsae112

Thrugelmir wrote: »

Lenders let's say will be cynical. At the least cautious. Particularly with a £100k of household income. The number of people who stretch out DMP's and settlement of debts in general. Then have the funds for a property purchase within days of paying off their debts. Never ceases to amaze me.

Will bear that in mind and if asked, I can provide lenders with documentary evidence to show where the funds have come from. an unexpected redudancy, and an increase in house prices which was not the case when i was really struggling financially in 2009 and now a dual income family.