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  • FIRST POST
    • Jay1983111
    • By Jay1983111 9th Feb 18, 9:01 PM
    • 1Posts
    • 0Thanks
    Jay1983111
    Right to buy...bad credit/large deposit
    • #1
    • 9th Feb 18, 9:01 PM
    Right to buy...bad credit/large deposit 9th Feb 18 at 9:01 PM
    Hello,

    Just wondering if anyone has been in a similar situation or has any advice.

    My credit history is not great, no big debts on their just some late payments to catalogue, one default of £25 from 5 years ago and one recent ccj for £250 that I payed a week after it was issued so I think that should technically mean it was wiped?
    I've never had credit cards only phone contracts on there and the catalogue.

    My flat is worth about £200,000 which I'm entitled to full discount of about 100,000.
    I've got a £50,000 deposit I can put down leaving me with £50,000 mortgage.
    Self employed earning roughly £25,000 before tax.

    Is it even possible for me to get a mortgage?

    Thanks in advance for any helpful advice.
Page 1
    • csgohan4
    • By csgohan4 9th Feb 18, 9:38 PM
    • 4,280 Posts
    • 2,678 Thanks
    csgohan4
    • #2
    • 9th Feb 18, 9:38 PM
    • #2
    • 9th Feb 18, 9:38 PM
    Best to put your credit files in front of a broker and see if you can get a mortgage.


    However bare in mind RTB does have their own issues, responsibility for all maintenance. More so as a leaseholder.




    http://forums.moneysavingexpert.com/showthread.php?t=5789909
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • ACG
    • By ACG 9th Feb 18, 9:53 PM
    • 16,318 Posts
    • 8,433 Thanks
    ACG
    • #3
    • 9th Feb 18, 9:53 PM
    • #3
    • 9th Feb 18, 9:53 PM
    You will be able to get a Mortgage.

    As has been suggested, speak to a broker. The CCJ will be the difference between normal rates and potentially higher rates, so well worth checking your credit reports.
    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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