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3 quick questions about getting a mortgage
brettarider
Posts: 31 Forumite
3 quick ones.
1. I'm divorced sold the previous property that had with the EX no profit from it would I be classed as a 1st time buyer again?
2. As I've changed address's a few times since divorce my credit score is a bit pants sitting around the 560 mark was 100% before hand never defaulted on loans etc waiting for a couple of credit searches to drop off in Sept before applying however if my score didn't go up off it's own accord would I be able to obtain a mortgage if I had a guarantor? Should have problems meeting the payments of what I'm looking to borrow.
3. I've seen a property and they are offering £5k cash back on the asking price could I use this towards a deposit?
1. I'm divorced sold the previous property that had with the EX no profit from it would I be classed as a 1st time buyer again?
2. As I've changed address's a few times since divorce my credit score is a bit pants sitting around the 560 mark was 100% before hand never defaulted on loans etc waiting for a couple of credit searches to drop off in Sept before applying however if my score didn't go up off it's own accord would I be able to obtain a mortgage if I had a guarantor? Should have problems meeting the payments of what I'm looking to borrow.
3. I've seen a property and they are offering £5k cash back on the asking price could I use this towards a deposit?
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Comments
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Do you have any deposit saved?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.0 -
Should be able to put down around 5K got a few assests that I can sell to get the deposit pretty quick0
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You are going to need a deposit of at least 10% of the house value to secure a mortgage in the current market. Plus having funds available for solicitor costs etc.
The £5K cashback would only be paid over on completion I suspect or after, you will need to check the terms with the estate agents.
Speak to an independent broker when you are ready who can help you find a lender that won't solely make their decision on a credit score alone.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.0 -
The money I could put down would be around the 10% not a des res I'm afraid but not to bad either beggers some times cant be choosers:D0
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Just goes to show how much house prices vary across the country
Good luck!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.0
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