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    • Coley650
    • By Coley650 11th Oct 16, 8:21 PM
    • 2Posts
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    Coley650
    First time confused buyer!
    • #1
    • 11th Oct 16, 8:21 PM
    First time confused buyer! 11th Oct 16 at 8:21 PM
    Hi, me and my wife are planning to buy a house in 7-12 months. She has good credit with only a credit card and her car on finance. I on the other hand have poor credit due to 3 defaults now being paid on a dmp totalling £4000 when I ran into difficulty 3yrs ago.

    We're considering changing her car to a more suitable one so we can sell our other car to cover the £4000. I'm worried this could affect her credit though as it will be a new agreement I assume.

    When we come to buy we may be having my grandma live with us as she is due to retire and she's considering gifting us £60,000 towards a deposit.

    I want to get rid of this £4000 asap as I think these accounts will be better settled and I can come off the dmp (which I think was a mistake). I'm new to all this and wondered if we're broaching this right or if anyone had some advise. I also don't want to ask my family to borrow it.

    Thanks in advance
Page 1
    • csgohan4
    • By csgohan4 11th Oct 16, 8:28 PM
    • 2,538 Posts
    • 1,571 Thanks
    csgohan4
    • #2
    • 11th Oct 16, 8:28 PM
    • #2
    • 11th Oct 16, 8:28 PM
    you will need a broker who deals in adverse credit, a lot of lenders don't like gifted deposits where the gifter is also going to live with you thereby having a vested interest in the property, they may want her to be on the mortgage/deeds too.
    • Coley650
    • By Coley650 11th Oct 16, 8:39 PM
    • 2 Posts
    • 0 Thanks
    Coley650
    • #3
    • 11th Oct 16, 8:39 PM
    • #3
    • 11th Oct 16, 8:39 PM
    Thanks. When would you recommend getting a broker given we're thinking 7-12 months?
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