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  • FIRST POST
    • steanna1
    • By steanna1 9th Jul 17, 8:01 PM
    • 8Posts
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    steanna1
    Bad Credit Mortgage with LTV of 50%
    • #1
    • 9th Jul 17, 8:01 PM
    Bad Credit Mortgage with LTV of 50% 9th Jul 17 at 8:01 PM
    Some advice would be great.
    I a looking to buy a house for £120000 with a deposit of £50k we were discharged Bankrupt in 2012 and stupidly have a CCJ from Water board. My income is £28k and currently pay £800 pm for rent.
    How would I fair getting a mortgage and as I am 45 I would only want a 10 or 15 year mortgage?
    Any advice greatly appreciated
Page 1
    • ACG
    • By ACG 9th Jul 17, 8:03 PM
    • 15,400 Posts
    • 7,786 Thanks
    ACG
    • #2
    • 9th Jul 17, 8:03 PM
    • #2
    • 9th Jul 17, 8:03 PM
    Your not going to have every lender available.
    If that CCJ is after the bankruptcy, then you have caused yourself a massive headache there so it will depend on when its from, when it was satisfied and how much it was for.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • steanna1
    • By steanna1 10th Jul 17, 7:41 AM
    • 8 Posts
    • 0 Thanks
    steanna1
    • #3
    • 10th Jul 17, 7:41 AM
    • #3
    • 10th Jul 17, 7:41 AM
    The CCJ was recent and with SWW and sill being paid
    Will any lenders be available?
    • ACG
    • By ACG 10th Jul 17, 9:30 AM
    • 15,400 Posts
    • 7,786 Thanks
    ACG
    • #4
    • 10th Jul 17, 9:30 AM
    • #4
    • 10th Jul 17, 9:30 AM
    I think you are going to struggle. There are lenders who will look to accept bankruptcies but when you then have more recent adverse, the underwriters will not look too well on it.

    I think there may be 1 or 2 lenders who would potentially consider it, but rates are going to be anywhere from around 5.5% up to around 9%.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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