DRO and mortgage

debtfreeteacher90

Hi, 
My DRO is due to drop off my credit file this October (after a long 6 years  ) and my CCJ will drop off this July. 

In the last 5 and a half years I’ve worked hard to make sure I don’t get into that position again. No debts, no defaults, no late payments and one credit card that I use for petrol and pay off in full monthly. My partner and I are looking to buy now we’re both 30 going on 31! 

 We have a deposit of 15-20% and are looking to  borrow less than our max amount. I really want to start the process of looking and moving by June/July.

Does anyone have any experience of applying for a mortgage 5 plus years after a DRO? Would I still be looking at subprime interest rates or will they take into account the time since? 

Would I be better off waiting and applying in October? 

Thanks! 

stevenbecca

Hi. if you can wait do so, we are currently in the process of looking for a mortgage as my wife is discharged 3yrs in march, looks like there is some lender's that will consider us with a rate around 3.6% which i didn't think is too bad. good luck with it