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Getting a mortgage after DRO
Hi
Me and my husband are currently renting and are looking to buying our frst home next year. However in August 2010 he went though DRO for debt that piled up when he lost his job years ago.
The moratorium period finished in August 2011 and we received a letter to confirm this. Just wanted some advice on the likely we will get offered a mortgage next year. Has anyone been though the same thing and now got a mortgage?
Thanks,
Katie
Me and my husband are currently renting and are looking to buying our frst home next year. However in August 2010 he went though DRO for debt that piled up when he lost his job years ago.
The moratorium period finished in August 2011 and we received a letter to confirm this. Just wanted some advice on the likely we will get offered a mortgage next year. Has anyone been though the same thing and now got a mortgage?
Thanks,
Katie
0
Comments
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What percentage of LTV will you require?"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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We are looking for homes around £160,000- £170,000, hoping to do help to buy so a deposit of 5%.0
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Not much chance then. HTB schemes tend to be for customers with a very clean credit history, although schemes maybe available in a years time.
You may need to save up for another couple of years for a better deposit or reduce the value of the house you want to buy. I had to drop 25% into my mortgage after my IVA finished.
Good luck with it and report back if you get good results."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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