Past DRO preventing me getting a mortgage

Kayandbob

Hello
Does anyone know why I am either being refused a mortgage or being asked for 15% deposit even after my dro has cleared of my credit report after being on there for 6 years?
Thanks

[Deleted User]

It's because of the risk you present to the lender.

They will based their decisions on your history, particularly what they see on your credit files, as well as any other information they ask or hold.

If you have a patch credit history, use a broker.

ACG

A DRO is no different (in the eyes of the lender) to bankruptcy.

Without knowing more it is difficult to say, but you should have options but as you are finding your options may be reduced. Percentage wise, your deposit is low, combined with the DRO and possibly other factors (gifted deposit, other late payments or defaults showing possibly, low income, short time in the job), it could just be your application is not scoring highly enough.

Get your reports in front of a broker. There should be options out there for you. The worst thing you can do is just keep applying as that can just result in numerous credit checks and cause more harm than good.