Mortgages for adverse credit

Mrs_Bumble

How do you know that you can afford the mortgage repayments? If your husband hasn't worked much since christmas how do you know that you are going to meet the mortgage each month.

I seem to remember that you said in the other thread that you hadn't been paying rent where you are now so it is going to be a big financial committment each month to meet a mortgage payment. If your husband doesn't find enough work then it isn't easy getting help with the mortgage repayments, he would need to have been out of work and declared himself as ceased trading to even try to qualify for the mortgage interest relief payments and so by then you would be well in arrears and your credit history completely out of the window.

At least if you were in rented and your husband isn't getting work then you can apply for help with the rental payments.

I agree with Beecher above, it may seem unfair to you but the whole proposition just isn't a good for them. In relation to the property under value aspect Nationwide certainly won't entertain any adverse.

I really can't understand how it is affordable.

Mrs_Bumble

In relation to the lenders that may lend on the back of adverse they are unlikely to lend where there is no deposit and a property under value.

How much were the defaults, are they settled and how long ago.