We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Will old DRO affect mortgage application?
RealElement47
Posts: 180 Forumite
in IVA & DRO
If a DRO is about 5 years old, would it better to wait the full 6yrs for it to be dropped off credit file before applying for mortgage ?
0
Comments
-
Short answer is yes.
It won`t be impossible to get a mortgage, but your chances are greatly improved the better your credit file looks.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »Short answer is yes.
It won`t be impossible to get a mortgage, but your chances are greatly improved the better your credit file looks.
Is it the case that after six yrs there is no record of the dro on your credit file?0 -
RealElement47 wrote: »Is it the case that after six yrs there is no record of the dro on your credit file?
Yes this is correct. As soon as it reaches the 6th year it is wiped automatically from the file.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.6K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241.3K Work, Benefits & Business
- 617.8K Mortgages, Homes & Bills
- 175.8K Life & Family
- 254.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards