mortgage with bad credit

mjcie

Hello,

Me and my fiance are looking to get a mortgage. I have quite bad credit from a few years ago (I'm paying it off now) but her's is fine. We are both in sales related jobs and earn basics of £35,000 between us plus commission on top. We have £20,000 as a deposit. We went to one of the high street banks today and got turned down.

What would be my best option from here on in? I think at the high street banks we would decline, and I've read about sub-prime mortgages but can't really find many lenders. The one I have seen would only lend maximum of 80% and we're looking to lend in the region of £130,000.

I don't know where to go from here.

Any help would be greatly appreciated.

Thanks

herbiesjp

As you rightly say - going down the high street getting declind will do more harm than good

Get in contact with a good whole of market adviser and let them see what deals, if any, you can find at the moment based on your circumstances

Sub-prime mortgages are few and far between at the moment

However, if one of you is earning £35k, you may be able to get the mortgage in one name and avoid the sub-prime altogether

mjcie

one of us earns 20 and the other 15 so we'd have to get in a joint name, however our bonus's should make up some of the shortfall.

Can you recommend anybody who could help us with a mortgage?

herbiesjp

Your best bet would be to discuss with a whole of market mortgage adviser and let them come back with a recommendation

Board rules don't allow advisers to recommend

_Andy_

Could you elaborate on the bad credit?