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    • JennieR89
    • By JennieR89 10th Sep 17, 7:32 PM
    • 2Posts
    • 0Thanks
    DRO & Mortgage Advice
    • #1
    • 10th Sep 17, 7:32 PM
    DRO & Mortgage Advice 10th Sep 17 at 7:32 PM
    Hi all I need some advice I've been trying to find answers on Internet for days! My fianc! has mortgage on the house we live in in his name because I still have couple of years left on my dro. I am a named occupier n doesn't bother me that it's in his name. My query is that because it's in his name he can only go of his wages. The max he can borrow with his wages is 100k. We have been told by mortgage advisor once my dro cleared we can borrow upto 250k because of my wages. We want a bigger house n we were just wondering once we're married (August 2018) even though my dro hasn't been cleared (2020) n house remains solely in his name could my wages be included in the income we have for a bigger mortgage? Many thanks everyone
Page 1
    • fatbelly
    • By fatbelly 11th Sep 17, 8:07 AM
    • 12,440 Posts
    • 9,488 Thanks
    • #2
    • 11th Sep 17, 8:07 AM
    • #2
    • 11th Sep 17, 8:07 AM
    A dro lasts one year. I presume you mean that you did one four years ago and it still shows on your credit file.

    Marriage won't make any difference, if that's your question.

    However you may find a lender who takes your income into account - maybe try a different broker?
  • National Debtline
    • #3
    • 11th Sep 17, 12:20 PM
    • #3
    • 11th Sep 17, 12:20 PM
    Hello Jennie and welcome to the forum.

    My reading of your post is the same as fatbelly's i.e. you did a DRO in 2014 and so it will disappear off your credit file altogether in 2020.

    There may indeed be lenders out there who will take your income into account - whether those lenders offer the best deals on the marker is another matter.

    One suggestion I would add is that you ensure you do everything you can to "clean up" your credit file before any future joint mortgage application - the following MSE guide is very useful if you're not already familiar with it:

    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • JennieR89
    • By JennieR89 11th Sep 17, 7:41 PM
    • 2 Posts
    • 0 Thanks
    • #4
    • 11th Sep 17, 7:41 PM
    • #4
    • 11th Sep 17, 7:41 PM
    Thanks both really helpful! Yes will try another mortgage advisor nearer time just didn't want to apply if it will affect our interest etc. Will have a read of the clear up. Many thanks again
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