Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Mortgage with bad credit

2 replies

Redwaters · 06/05/2015 16:02

Is this even possible? I'm guessing the answer is probably not but if a considerable amount of time between defaults has lapsed is it a possibility in a few years?

OP posts:
PurpleBananaPie · 06/05/2015 16:24

It is sometimes possible, it depends on a lot of things. Such as what do you mean by bad credit? How many defaults and for how much? How long ago? Are they now satisfied? How much of a deposit do you have, the higher deposit the greater chance you have.

It may be worth you speaking to a Mortgage Broker who specialises in adverse credit to see whether anything is possible.

Redwaters · 06/05/2015 16:28

If I'm being honest, I don't know. I know I need to get hold of my credit file, and know how to do this, but I've had my head in the sand for ages a while.

I used to be very good with money, but after leaving university I ended up moving nine times in a year (you read that right!) and as a result, I missed a lot of payments through sheer disorganisation and being unable to keep on top of things. After buying a house in 2005, I went completely mad (Blush) and ended up opening a "basic' bank account. Had this for years.

I've had a 'proper' account with a debit card since 2011 but I can't get a credit card or similar and I'm permanently in my overdraft.

I'd love to buy a bigger property but feel stuck.

OP posts:
New posts on this thread. Refresh page