FTB with bad-ish credit need a mortgage advisor

circuit

Can anyone recommend a whole of market, fee-free broker who would give us some advice?

We have a combined salary is £35k and we can get a 10% deposit together for a house well within our budget within the next couple of months.

However I have a CCJ hich was paid within a month (I am in the process of getting it removed but it's going to take a while), and there is a one-year-old default for a mobile phone bill. I actually paid it so I have written to complain but I realise I may be stuck with it. However, it is only £96.

Assuming this CCJ is removed, we were wondering if we would struggle to get a good deal.

Also, in addition, the house has no kitchen so we would like to have an interest-only option for the first year or so to free up some cash. Is this likely to be more difficult given the contraction in the mortgage market?

Any opinions and advice would be very welcome as we are confused by the options.

dragon_warrior

Hi im not an expert by any means but me and my Gf are also first time buyers, were lucky enough to have a 25% deposit and also have a combined salary of around 35k. Unfortunatly we have been finding it very hard to find a mortgage company willing to take us on. Neither of us have CCJ's or Defauls, the worst we have is 3 late payments in the last year to a catalogue company we never signed up for (long story) but in short i would say not much chance at the moment. Britannia and C&G have both refused us.

I wish you more luck then weve had

circuit

Thanks for that. Hm, that doesn't sound good at all. Can I ask how much you have been trying to borrow?

dunstonh

dragon_warrior wrote: »

Hi im not an expert by any means but me and my Gf are also first time buyers, were lucky enough to have a 25% deposit and also have a combined salary of around 35k. Unfortunatly we have been finding it very hard to find a mortgage company willing to take us on. Neither of us have CCJ's or Defauls, the worst we have is 3 late payments in the last year to a catalogue company we never signed up for (long story) but in short i would say not much chance at the moment. Britannia and C&G have both refused us.

I wish you more luck then weve had

Most first time buyers use a whole of market mortgage broker. Perhaps you should do the same?

getmore4less

No Kitchen is that habitable?

circuit

We would be buying and fitting one straight away.

Dan_1976

No kitchen no mortgage in most cases.

feisty1

circuit wrote: »

We would be buying and fitting one straight away.

Survey has to read it is fit for habitable use, not a chance!

Why are FTB's not speaking to advisers first and gaining some knowledge and or guidance instead of looking at property then coming on here and saying pls recommend a mortage!! FTB's never used to be like this!

circuit

Because we thought we could get some pointers on a Sunday night before calling someone in the morning? Sheesh, don't worry about it... thanks for the info anyway.

feisty1

circuit: don't take that personally, I was really talking to myself......yr not the 1st to come on here and say we've found a property etc, now let's start looking for a mortgage..........Out of interest can you explain why you didn't go to see an adviser first to see it it would be possible to obtain a mortgage, before even considering a property, you see yrself how u've hit a brick wall...I would be really interested to hear yr side of the story, I owe you that...