DMP - Windfall and Mortgage

LexieLou

Hi,

I'm on here looking some advice, I'm mid 40's, 3 years into a DMP and have a balance of about £24k to go. I'm about to come into some money which means I can pay off my DMP, and have about 60K left. I earn about £42k a year

My questions are:
I'm looking at houses where I would need to borrow £80k max, as well as use my windfall, so total cost of house would be about £140k,  based on the wisdom of the folk here, how long should I wait from clearing my DMP to applying for a mortgage?  
Do I pay my debts in full, or go for a settlement?

Thanks 


LL xx

ACG

A lot I think depends on how your credit report looks. 
If your credit report is a bit of a mess, you may as well just crack on now. Speak to a broker and they should be able to help. 
If your credit report has no adverse showing, then I would say a few months after.