Hello, I’m looking for some advice. We currently owe approx £47K on our DAS. We are about to come into approx £75K in inheritance in the next few months. Our plan was to pay off our DAS but we have recently found out I am pregnant (very unexpectedly) and we now need to desperately move house (small 2 bed with soon to be 3 kids). 

If we were to pay off our DAS it would leave us approx £28K, which for us would be about a 20% deposit. 

If we didn’t pay it off it would give us 60% deposit. 

We can’t find much info about getting a mortgage with a DAS and how long after paying it off we could apply. 

Any advice would be greatly appreciated. 

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Hi there,

It certainly sounds a stressful time..

In terms of mortgage potential, you will almost certainly need to settle the DAS although lenders treat this very differently as the insolvency based schemes are a little different in Scotland.

If you settle early, will they potentially reduce the value for a full and final settlement?

The bad news is that you will almost certainly require 25% and maybe 30% deposit subject to the absolute detail..

Best of luck

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