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Bad Credit Mortgage
KAW78
Posts: 1 Newbie
Hi,
My boyfriend and I are looking to see if we can get a mortgage a bit later on this year, however I am in a Debt Management Scheme and will be for the next 5 years, and my boyfriend is being discharged from his Bankrupcy in August (fingers crossed).
We are very kindly being given a deposit by our parents (who don't want us living back at home when our tenancy agreement runs out on our current home) which will be in the region of £20k - £25k, but I am still not sure if this is enough to secure a mortgage, and also if we would even be considered.
We are both employed full time on decent wages and are more in control of our finances then we ever have been, but I wondered if anyone has any experience of this situation and any advice please.
Thanks
Kerry
My boyfriend and I are looking to see if we can get a mortgage a bit later on this year, however I am in a Debt Management Scheme and will be for the next 5 years, and my boyfriend is being discharged from his Bankrupcy in August (fingers crossed).
We are very kindly being given a deposit by our parents (who don't want us living back at home when our tenancy agreement runs out on our current home) which will be in the region of £20k - £25k, but I am still not sure if this is enough to secure a mortgage, and also if we would even be considered.
We are both employed full time on decent wages and are more in control of our finances then we ever have been, but I wondered if anyone has any experience of this situation and any advice please.
Thanks
Kerry
0
Comments
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I'll be honest, and say your chances are virtually zero
I am a Mortgage adviserYou 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.0 -
I am not optimistic................................I have put my clock back....... Kcolc ym0
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What kind of house prices are you looking at? As the others have said its unlikely in the current climate unless you're looking at buying something for £50kish"You've been reading SOS when it's just your clock reading 5:05 "0
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