Shared ownership

algynon123

Hi, I am interested in the shared ownership scheme. I  have a good credit score, even though I am in a debt management plan. I have never missed any payment my plan. I don't have any credit cards or loans. I meet all the S/I scheme requiment. Would you think I would still be eligible whilst in the DMP. 
Thanks

[Deleted User]

With such a poor credit history, you have a long way to go before considering a mortgage.

Finish the DMP, build some savings and start creating some decent credit history.

algynon123

For shared ownership I wouldn't need a mortgage, the small profit from our house sale would pay the deposit. Just to clarify the DMP position, I was owed 140 k from a company that went bankrupt.

D3xt3r5L4b

Your good credit score has nothing to do with lending decisions being made. 

MovingForwards

Ask on the mortgage board as a few brokers post.

Andyjflet

apply through help to buy and you'll either get approved or not, its pretty simple, I did it myself. 

MalMonroe

algynon123 said:

For shared ownership I wouldn't need a mortgage, the small profit from our house sale would pay the deposit. Just to clarify the DMP position, I was owed 140 k from a company that went bankrupt.

You'd still have to make regular payments somehow though, wouldn't you? 

But no-one can really answer the question with any confidence. As andyjflet advises, just apply. That's the only real way you're going to know.

sourcrates

algynon123 said:

Hi, I am interested in the shared ownership scheme. I  have a good credit score, even though I am in a debt management plan. I have never missed any payment my plan. I don't have any credit cards or loans. I meet all the S/I scheme requiment. Would you think I would still be eligible whilst in the DMP. 
Thanks

If you have no loans or credit cards, then what are you repaying through the debt mangement plan ?