Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Can anyone give me advice on mortgage with "bad credit"

(2 Posts)
Kf2017 Wed 19-Apr-17 16:53:27

Hi

So me and my husband tried to get a mortgage in 2011. No luck at all.

Current situation is fairly bad credit with outstanding defaults (due to high rents/childcare and poor attitude in the aftermath of mortgage rejection). Outstanding debts of about 9k. These can be satisfied but will compromise deposit amount. Joint income is around £50k.

We can get a mortgage together of between 15-20k.

Is it impossible? Will anyone out there give us a mortgage? Should we give up and concentrate on becoming debt free?

Thanks for any advice

19lottie82 Thu 20-Apr-17 00:13:12

If you were rejected in 2011 and this has been followed by more defaults / late payments (as in multiples) then IMO I wouldn't say it looks too hopeful, but no one can say for sure until you apply, or even better, see a broker.

Personally if I were in your shoes I'd focus on paying off your debt and trying to clear up your credit worthiness then think about a mortgage.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now