What are our chances?

Worried_Girl

Hi, I hope you can help!.

My husband and I were in a joint Debt Arrangement Scheme (DAS Scotland) which was completed in December 2014. I have 4 settled defaults on my account which were registered between 2011-2012 and my husband has 1 settled default on his credit file from 2012.

Can anyone advise me where we stand with getting a mortgage? We are based in Scotland and would like to know if there are any lenders that would consider us for the help to buy scheme.

If not, I would appreciate any advice as to what out options are. We currently have a property worth around £65,000 with a mortgage of £52,000. We have a deposit of £15,000 and would be looking for a mortgage of £180,000. We have a joint income of £72,000.

Many thanks

MichMoor

You can only try but I can tell you my experience, after separation from my wife my credit rating took a battering, had a default listed but 2 years on I paid everyone off and manage to build up a deposit of 18k on a 88k property (20%), 1 mortgage advisor I went to said no chance, another I went to found me a mortgage with the Halifax, go to a proper mortgage advisor, and try again if one can't do it nothing to lose by shopping around!

Thrugelmir

Worried_Girl wrote: »

If not, I would appreciate any advice as to what out options are. We currently have a property worth around £65,000 with a mortgage of £52,000. We have a deposit of £15,000 and would be looking for a mortgage of £180,000. We have a joint income of £72,000.

Many thanks

Lenders will be wondering why it took so long to clear your debts. Small mortgage , good income and savings. You may well have to let some time pass.