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Mortgage after bad credit
Choccienuggie91
Posts: 1 Newbie
Hi everyone, my first post on here so hopefully someone can help.
Long story short:
- I had a history of poor credit including one default (No longer on my file), payday loan usage and missed payments.
- I’ve cleared Majority of my debt and now I’m over a year clear of missed payments etc. My score is now in the 900s (I know this doesn’t count for much) but things are looking much better.
- I spoke to a mortgage advisor as I’m looking to buy with my partner. He was on a DMP (we cleared it yesterday) however we were looking at mortgage in my name solely.
- MA came up with a couple of options however as some of the deposit is partially gifted from his relative, we have to do a joint mortgage for most providers.
we are happy to wait 6-12 months as we want to try and save more so we at least have 15% (currently only have 8-10% of a basic property) however I would love to hear from others that have been successful with getting a mortgage after a DMP and how long they waited?
i know it’s possible and there are providers that can help so would be great to hear of some examples.
thanks and sorry for the Ted talk!
Long story short:
- I had a history of poor credit including one default (No longer on my file), payday loan usage and missed payments.
- I’ve cleared Majority of my debt and now I’m over a year clear of missed payments etc. My score is now in the 900s (I know this doesn’t count for much) but things are looking much better.
- I spoke to a mortgage advisor as I’m looking to buy with my partner. He was on a DMP (we cleared it yesterday) however we were looking at mortgage in my name solely.
- MA came up with a couple of options however as some of the deposit is partially gifted from his relative, we have to do a joint mortgage for most providers.
we are happy to wait 6-12 months as we want to try and save more so we at least have 15% (currently only have 8-10% of a basic property) however I would love to hear from others that have been successful with getting a mortgage after a DMP and how long they waited?
i know it’s possible and there are providers that can help so would be great to hear of some examples.
thanks and sorry for the Ted talk!
0
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