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buying a house and need advice/help
alex_james007
Posts: 1 Newbie
I am looking for a way to get back on the property ladder.
About three years ago I had some financial problems, mainly with unsecured debt, although I did have some mortgage arrears. In January 2006 we sold our house to a company who allow us to rent it back and I placed all the unsecured debt in a debt management programme with Gregory Pennongton.
We would now like to buy a house again if possible but we do not have a cash deposit. We have the option to buy our house back for 90% of the market value (approximately £220k) but would also look at other cheaper houses. We have seen one which was originally on the market at £145k, now reduced to £135k would possibly go for around £125k.
We have heard there are options for vendor gifted deposits and also the possibility of obtaining a bridging loan to buy a property and then remortgaging once the sale has gone through to clear the bridging finance.
Unfortunately I have gained one CCJ and severaldefaults over the past couple of years.
We would very grateful for any help or advice you can offer.
Regards
About three years ago I had some financial problems, mainly with unsecured debt, although I did have some mortgage arrears. In January 2006 we sold our house to a company who allow us to rent it back and I placed all the unsecured debt in a debt management programme with Gregory Pennongton.
We would now like to buy a house again if possible but we do not have a cash deposit. We have the option to buy our house back for 90% of the market value (approximately £220k) but would also look at other cheaper houses. We have seen one which was originally on the market at £145k, now reduced to £135k would possibly go for around £125k.
We have heard there are options for vendor gifted deposits and also the possibility of obtaining a bridging loan to buy a property and then remortgaging once the sale has gone through to clear the bridging finance.
Unfortunately I have gained one CCJ and severaldefaults over the past couple of years.
We would very grateful for any help or advice you can offer.
Regards
0
Comments
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Would you be prepared to save up a deposit for a couple of years?0
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Have you cleared all the debt you've had?0
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The harsh truth: with no deposit and a CCJ no lender is currently going to give you a mortgage.
Advice: save for a deposit and wait until the CCJ disappears from your file.0 -
You do not have a deposit let alone a substantial deposit.
Others who have given you loans have lost out.
You have a recent CCJ.
The chances of being given a mortgage are very low in my opinion................................I have put my clock back....... Kcolc ym0
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