buy to let mortgage

hopeless_case_2

Where will i get a deal on a buy to let mortgage house costs £125.000 got a 45000 deposit so need £80.000 mortgage? I have had poor credit in the past.

socrates

Simple answer - probably nowhere

_Andy_

You haven't given any details about your adverse credit so impossible to say.

Your best bet in any case would be to speak to a decent broker.

herbiesjp

The deposit is big enough to get you great deals.

However without knowing the exact details of the adverse credit i.e amounts, who they were with, were they defaults or CCJs, how long ago they were registered and satisfied - no one can really say.

Also do you have other properties?

hopeless_case_2

no other properties but loads of defaults from early last year. no ccj's

feisty1

45000 deposit this year
defaults last year??????????

hopeless_case_2

feisty1 wrote: »

45000 deposit this year
defaults last year??????????

i wanted an answer to my question not to be judged where i got the money from. (my parents as it happens).they sold their home are too old for a mortgage and so i was going to see about buying one and renting it back to them. They asked if i would do this for them.

feisty1

[quote=hopeless case;18502983]i wanted an answer to my question not to be judged where i got the money from. (my parents as it happens).they sold their home are too old for a mortgage and so i was going to see about buying one and renting it back to them. They asked if i would do this for them.[/quote]

It is not judgement, a mortgage adviser & lender would ask the exact same question............

quote: too old for a mortgage
mortgages for all ages now

quote: renting it back to them
you will find strict criteria regarding renting to family

herbiesjp

You will need an up to date copy of your credit file

And you will need to discuss that file, along with the fact you are looking to rent to family, with a whole of market adviser

There may be some options, but you would need to provide a lot more information with which an adviser would then start finding out for you

socrates

Might be an idea to clear any outstanding debts you have - get satisfaction letters .If you have any CCJ's clear those as well.

Then start again from scratch - however I feel your parents would be better off getting a mortgage themselves

hopeless_case_2

feisty1 wrote: »

It is not judgement, a mortgage adviser & lender would ask the exact same question............

quote: too old for a mortgage
mortgages for all ages now

quote: renting it back to them
you will find strict criteria regarding renting to family

err no need for that is there we come on here for impartial advice dont bother posting if you have so much aggression.