Is it possible to obtain a mortgage after a DAS?

Starlight777

I entered into a DAS agreement a year ago under financial duress, I have since started a business which has doubled my income and paid off the DAS within 6 months, the total value of which was around £6000. I now have some savings behind me and I am debt free. My partner and I have started talking more about our future together and the prospect of buying a place together but I’m terrified at the prospect of sitting in front of a mortgage advisor and being declined due to the DAS. Has anyone had any previous experience of this situation?

[Deleted User]

Yes, it's possible, in time  A larger deposit will help and don't expect headline rates.

Pop to the mortgages board.

[Deleted User]

Anything like that will sit on your record for 5-6 years (think it's 5 in Scotland?) but effects lessen over time and an otherwise clean record, good earnings and big deposit will help. Keep in mind that a new business that is doing well for a few months isn't going to guarantee any sort of acceptance of mortgage - you'd probably need a while to get reliable accounts to prove income