We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

mortgage with bad credit

iainsuz
iainsuz Posts: 15 Forumite
in Mortgages & endowments
I am looking to get a morg to buy my council house i have 2 defaults from 2004 the price of my house is 25200 with my discount the market value is 70000 do you think that any one will take me on

Comments

  • iainsuz
    iainsuz Posts: 15 Forumite
    I am going to buy my council house which i am getting for 25200 i am getting a 45000 discount on it but i have 2 defaults do you know anyone who could take me on
  • thriftymomma
    thriftymomma Posts: 1,107 Forumite
    You need to either approach your own bank or a whole of market broker. Good luck. Please let us know how you get on. You have a good LTV rate so there must be someone out there who will.
    Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
    Another 3% shaved off 10/12/08
    ANOTHER 4 % June 09:beer:
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    WIth those kind of figures you should be able to get a mortgage

    Even if it turns out to be an adverse lender, the actual interest rate payable (if higher) will make only a slight difference as the mortgage amount is relatively low.
    I am a Mortgage Adviser
    You 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.
  • iainsuz
    iainsuz Posts: 15 Forumite
    i have been offered in principle with a slightly higher interest rate the mortgage company have took a arrangement fee of me but it has been 5 wks and still no offer of mortgage i phone every day and they say it is with the underwritters ,do you think they are going to give me it or just taking the !!!!
  • poppy10_2
    poppy10_2 Posts: 6,588 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    iainsuz wrote: »
    do you think they are going to give me it or just taking the !!!!
    I think they are just taking the !!!!, I'm sure they love wasting their time stringing random punters like you along. :confused:
    poppy10
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    iainsuz wrote: »
    i have been offered in principle with a slightly higher interest rate the mortgage company have took a arrangement fee of me but it has been 5 wks and still no offer of mortgage i phone every day and they say it is with the underwritters ,do you think they are going to give me it or just taking the !!!!

    Iain you already have an entire thread running about this.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.4K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture