My husband currently has a mortgage in his name only.
we both have a joint DAS (scotland debt remedy) which has approx £46,000 outstanding.
we have just found out I am pregnant with 3rd child and live in a small 2 bed.
We have recently received inheritance of £80,000.
would we be accepted for a mortgage without paying off our DAS so a deposit of £80k. Our are we better paying off our DAS and having approx £34k deposit. House price we are looking at are between £150k - £180k.
do we have to wait a certain time after the DAS is paid off? We took it out in 2018.
Hi, thanks for getting in contact.
Potentially a mortgage can be possible without repaying the DAS however it will come down to the final details i.e exact dates, number of creditors.
With a credit file and DAS statement we would be in a better position to give advice.
Getting a home loan isn't just a big step, it's an entire staircase — and it can take a long time to reach the top. There are times when the climb will feel dizzying, but knowing how to get a mortgage before you start can help you stay organized and feel more in control.
Matt Brown, Sometimes known as Mortgage Matt, is the branch manager for Megastar Redding. He has been in business and finance for 10 years, and spent three years as a loan officer for Megastar Financial, helping people in Shasta County find the best loans for them. He is well versed in many different loan programs including FHA, USDA, VA, and conventional loans. He also has skill in mortgage planning, lending, investment and refinancing.
Matt Brown has lived in Shasta County for a long time, and graduated from Simpson University.