Lmj1982

Hi we currently have an active DMP, we are wanting to move house. Some of the equity also could pay off the DMP ( settlement offers) 

we have had no new defaults registered in the last 2-3 years, no active pay day loans but some
took out 9months ago (paid off) both work full time 


we will have 10-20% deposit from the equity of the house. We need to sell to repay a 2nd charge mortgage off payable this year. 


what are our chances?

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David@SimplyAdverse

Hi, thanks for getting in contact.

It's good that you've stopped taking out pay day loans as they can be very damaging so well done and do try and stick to that.

The bigger your deposit the greater your cases therefore you have a far better chance of success with 20% than you do with 10% especially with lenders being more nervous of higher LTV during current events.

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Lmj1982
15% is probably the most we could go to due to wanting extra funds to pay off other debts 
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David@SimplyAdverse
In which case a mortgage is still likely to be possible however as always it will come down to the details and how they are reflected on your credit files.
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