Bad & adverse credit & specialist mortgage forum

Please consider registering
Guest

Forum→Debt, Arrears & Credit Files→DAS Mortgage

DAS Mortgage

RSS

ashley_987

10 Posts

(Offline)

29/06/2021 - 2:33 pm

I have just completed a DAS in Scotland, this is not insolvency or anything like an IVA but have read worrying things about mortgage providers treating them as such. The defaults and DAS wont come off my credit report until 2023 but was hoping to buy a house mid – end of 2021. Would I require a really high deposit?

[email protected]

101 Posts

(Offline)

29/06/2021 - 2:55 pm

Hi, thanks for getting in contact.

I’m afraid a significant deposit is likely to be required however the exact sum will come down to the finer details.

I would expect the deposit requirement to be within 20% – 30% depending on the exact dates/amounts etc

[email protected]

101 Posts

(Offline)

29/06/2021 - 2:55 pm

Hi, thanks for getting in contact.

I’m afraid a significant deposit is likely to be required however the exact sum will come down to the finer details.

I would expect the deposit requirement to be within 20% – 30% depending on the exact dates/amounts etc

ashley_987

10 Posts

(Offline)

29/06/2021 - 2:56 pm

Thank you for getting back to me. That amount of deposit seems to be impossible, is there any reason for this? Why would it be treated like an IVA when it is specifically a way to avoid insolvency?

[email protected]

101 Posts

(Offline)

29/06/2021 - 2:56 pm

The way this type of arrangement is viewed will vary between lenders with some viewing it as more of a DMP (debt management plan) however even in that scenario the deposit requirement remains high I’m afraid.

ashley_987

10 Posts

(Offline)

29/06/2021 - 2:56 pm

Sorry to ask more questions – in a situation like this if I used a shared ownership scheme, like the first home fund (£25k towards deposit), would this be an option for someone like myself to bring myself up to the 20-30% bracket? There seems to be a limited number of lenders with this however

[email protected]

101 Posts

(Offline)

29/06/2021 - 2:56 pm

Unfortunately the First Home Fund is due to end this Friday, I would pay close attention to the Government website on this though so that you’ll be aware if and when it gets re-launched.

Forum Timezone: Europe/London

All RSSShow Stats

Administrators:
admin
Paul Carmen
SabinaC

Moderators:
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]

Read Our Latest Reviews

4.94 Stars - Based on 2377 User Reviews

Akeel

Big thank you to the Team @ Simply! - Got me a mortgage offer when i thought i had no options left. They kept me updated on everything very quickly and put me at ease. I would like to thank... read more read less
16/08/2022

Michael

WE DID NOT REALISE WHAT A HARD PROCESS THIS WAS GOING TO BE BUT MY MORTGAGE ACCOUNT MANAGER GEOFF WAS FANTASTIC, WE COULD NOT OFF GOT SOMEONE BETTER. FROM START TO FINISH AND DEAL AFTER DEAL HE KEPT GOING UNTIL... read more read less
16/08/2022

Anonymous

Excellent service outstanding communication from start to finish stright answers for any questions I had this is my second time round using this company can not be faulted in anyway highly recommended alex & the team will deliver everytime thanks... read more read less
15/08/2022
Anonymous

I cannot believe I now have a mortgage offer! I spoke with Alex a few months ago and he gathered all the information then sent it through to the pre underwriter. Jackie and Ava were lovely. I had to wait... read more read less
15/08/2022

Sam B.

Simply the Best! Once again Simply have gone above and beyond to secure my mortgage. I have used them time and time again and the service is absolutely brilliant. I’d like to make a special mention to Caroline who has been my mortgage... read more read less
13/08/2022

Anonymous

Simply Adverse we’re great and helped me so much. I am so happy with the service and the outcome . I would recommend them to anyone .
12/08/2022
Clifford

Following a medical condition which scuppered my credit, we thought home ownership was a pipe dream. We had tried another broker and was fobbed off almost immediately. One call to Simply however and the optimism was born. Today we have... read more read less
12/08/2022

Deb P.

Cannot thank Jenny and Chanelle enough for their help and work with my remortgage. I would recommend them 100% and would happily return to them in future if needed. Thank you for helping and seeing me through this process from... read more read less
10/08/2022

Lily

Amazing! Was really helpful and very quick. Had our interest at heart all the time and did as much as they could for us!
09/08/2022
AJ

After we had given up hope of getting a… After we had given up hope of getting a mortgage, simply popped up on google! Nothing but friendly and supportive staff, were there for us every step of the way, if we needed anything they were just a call away.Even... read more read less
09/08/2022

Andrew

Jamie and Paige were superb, answering any questions and would be very responsive to calls they were worth every penny there were several hurdles and they guided us through it all could not be happier and would recommend time and... read more read less
08/08/2022

Danny

They was great helped with all inquiries and could always reach them on the phone if needed.
08/08/2022
Dan S.

An honest review.. I've dealt with Simply for two separate mortgages and on both occasions they have been very efficient and helpful. Mortgage processes are not straight forward, especially in todays climate. However Simply helped us to understand and evaluate our offers without... read more read less
08/08/2022

Keiron L.

From day 1 they were very helpful and a… From day 1 they were very helpful and a pleasure to work with.They are on the ball and process things very quick they name needs to change to simply the best.Special thanks to Henri who believed in me and this... read more read less
08/08/2022

Emma

Amazing service! Can’t wait to remortgage with Simply Adverse
07/08/2022
Zenclix

I would like to thank Nathan I would like to thank Nathan, Nicole & the team at Simply Adverse for all the help, advice & support they gave me through out the application. When things looked bleak they worked extremely hard to secure an offer. I... read more read less
06/08/2022

Hanson

Absolutly amazing from start to finish very open and honest communication was spot on constantly keeping you in the loop on the next stages.would like to say a massive thank you to both Nathan and Henri.
05/08/2022

Anonymous

Very helpful broker. Managed to secure us a mortgage even with our poor credit history
05/08/2022
Ian

Outstanding service, polite, knowledgeable and seamless transfer from stage to another
04/08/2022

Chloe

From beginning to end Simply have been amazing and kept us updated through the whole process. Everyone we have dealt with have been so lovely and friendly! Thank you so much all of you for everything! We wouldn’t hesitate to... read more read less
04/08/2022

Sanderson

Thank you so much for your efficiency throughout our application! Ava was amazing! Even when she was away her colleges took over everything went smoothly we are very greatful many thanks
04/08/2022
Chris

Absolutely fantastic! This is the third time we’ve used Simply and they’re well worth it. First rate service from Caroline and Katherine. Highly recommended.
04/08/2022

stephen

Simon and the team at Simply Adverse not only helped us with an initial mortgage 2 years ago when nobody else would touch they have just successfully brokered our re-mortgage without any complications and in a time frame that was... read more read less
03/08/2022

Kiara

Absolutely over the moon with these… Absolutely over the moon with these guys! We were told by 3 other companies after giving all our details they couldn't do anything for us. Rang Simply at 8pm on 7th July and Reiss had a mortgage in principle for... read more read less
03/08/2022

Read Our Latest Reviews

What You Will Pay For Our Services And When – Mortgage Advice

Legal Information