getting a mortgage is this financial climate

ashy-chester · 21 April 2009 at 9:49PM

Cut a long story short from 18-23 my credit was great. I had 10k credit card with capital one, 15k loan etc. Anyways my father died i went into a swamp in terms of my life.

I ended up abusing my credit and going bankrupt in 2002, I was discharged three years later and as of dec 2008 my files are apparently clean. Although I havent applied for credit.

I want to ask this I have 70k which i pilfered before i went bankrupt I blamed gambling, but I have had it in my grandads account putting in 5k payments over the last 4-5 years thus avoiding the dreaded money laundering!.

Now I am 30 I want to buy my own place, £150k+ I want to borrow putting down 30k.

Now i have a job self employed is there any mortgages which are totally self cert?, ie no income check?.

How much would the start up costs be?

I realise my credit will go up massively when I have a mortgage in my own name which is paid each month.

Broker my best option?

I assume I need a dodgy broker given recent press articles!

Cannon_Fodder · 21 April 2009 at 10:28PM

Tread carefully.

If your Grandfather was to die within 7 years, the Taxman will come for his share of the £30k (and for tax on the rest of the £70k in due course), not knowing that it was not your grandfather's - it will look like a gift to a relative.

I hope your grandfather is not missing out on benefits/pension/allowances etc because his savings are too high...

herbiesjp · 22 April 2009 at 8:19AM

ashy-chester wrote: »

Broker my best option?

I assume I need a dodgy broker given recent press articles!

No

You need a good honest broker who will not end up putting himself and you in jail

You need one that can turn round and tell you outright if what you are looking to do is possible.

You need one that can trun round and say, sorry I don't deal in mortgage fraud - which is somewhere you are looking to go if you are looking for a dodgy broker.