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DMP due to end - how soon can we move house?
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Posts: 18 Forumite
Hello,
We are due to finish paying our DMP off in June and will have paid off approx. £30k in 3 years. We are now planning to go over our credit files and ensure they are in the best shape possible in order to get our credit rating back up.
We intend to put the £900 we were paying each month into the DMP into our current mortgage to build up as much equity as possible for around a year and then we'd like to try and move home. We have very much outgrown this house and need to move asap. As it stands, if we were to sell our house based on a very cautious estimated selling price we have around £20k equity currently - this is before we add the monthly £900.
We have a combined gross income of £70k and obviously no loans or credit after June ( the only other biggie is childcare at approx £500/month) I wondered if anyone could advise a) how soon we can think about moving and b) how limited we would be in our options (i.e. how can we estimate what price bracket would we be looking at and what would our interest rates be) and lastly c) what else can we do to improve our credit scores to improve our situation as much as possible?
Thank you very much in advance.
We are due to finish paying our DMP off in June and will have paid off approx. £30k in 3 years. We are now planning to go over our credit files and ensure they are in the best shape possible in order to get our credit rating back up.
We intend to put the £900 we were paying each month into the DMP into our current mortgage to build up as much equity as possible for around a year and then we'd like to try and move home. We have very much outgrown this house and need to move asap. As it stands, if we were to sell our house based on a very cautious estimated selling price we have around £20k equity currently - this is before we add the monthly £900.
We have a combined gross income of £70k and obviously no loans or credit after June ( the only other biggie is childcare at approx £500/month) I wondered if anyone could advise a) how soon we can think about moving and b) how limited we would be in our options (i.e. how can we estimate what price bracket would we be looking at and what would our interest rates be) and lastly c) what else can we do to improve our credit scores to improve our situation as much as possible?
Thank you very much in advance.
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