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Mortgage

5 replies

Soundofraindrops84 · 03/08/2013 20:11

Where is the best place to get a mortgage if you have bad credit?

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NatashaBee · 03/08/2013 20:23

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Soundofraindrops84 · 03/08/2013 20:31

Thank you for your answer. Tbh I haven't got a deposit saved as yet as I'm on maternity leave and we have been paying off debts but my credit file should be back to normal by this coming January (according to credit expert) will be able to save quite quickly once back to work though. Just don't know where to start.

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Winter123 · 03/08/2013 23:48

You can get a independent financial adviser from unbiased.co.uk

If you had poor credit previously it is unlikely that you would be accepted by a mainstream lender (high street bank etc) you will need a decent deposit to avoid having a really high interest rate or being declined. Most likely you will need more than 10% as a deposit. Don't forget to factor n stamp duty land tax and legal fees.

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Nina20 · 04/08/2013 13:04

Hi there,

I want to buy a holiday home in Wales and am wondering what are the best ways to raise the finance. To complicate things, ideally I woud like to buy the house at auction.

I have a fixed rate mortgage on my current home, which I will be able to pay off in four years time (when the fixed rate deal ends).

Can I take out a second mortgage? If so, can I go with any lender or does it have to be with my current lender? Are second mortgages charged at higher rates of interest?

Any wise words would be appreciated!