Are there any sub prime lenders still out there???

wolseley_2

If I was in your situation, then I would be considering the following...

Continue with the sale of your house and pay off the mortgage with the proceeds. You say that you want to move to another area as your current one is going downhill - you don't have to buy another house to live somewhere else... Rent!

You should have enough left over from the sale of your house (after paying off the mortgage) to have a deposit to put down on a place to rent, and you should even still have some left over to pay down some of your debts. Rent for a few years while paying off the remainder of your debts, and then you will be in a much better position to buy again.

Bloo_Loo

double post

BubbleBust

DervProf wrote: »

... They fall for it every time. The government have their voters exactly where they want them, fighting each other to outbid each other on a pile of bricks that promises many riches in the future. And when they finanlly get that humungous mortgage, they simply have to work their socks off for many years to pay it off. While they`re occupied doing that, they`re to busy to realise that they really are being stitched up.

Good post DervProf, but really that ain't the half of it.

Do some research and find out where this "money" (credit) comes from and how we are all being robbed blind every second of every day, and you will be REALLY annoyed ( To start you off search you tube for "MONEY AS DEBT II 1 OF 8 PROMISES UNLEASHED" and also go to Google video and search for "the money masters")

I saw the old poster of Ronnie Biggs in the paper last week and it said something along the lines of "the most daring robbery in history"... hmmmmm I really don't think so

Back on topic:
OP, you really need to get some of your debt paid down. It is difficult and takes time but there is a lot of help available on this site. Good luck.

Thrugelmir

DervProf wrote: »

I thought I heard that "sub-prime" mortgage lending was an American thing, and that there weren`t any sub-prime mortgages in the UK ?

Lehmans and GMAC spring to mind...........

Spartacus_Mills

rob7475 wrote: »

Hi,

We have just sold our house for £108,000 and currently owe about 88,500 on the mortgage (with accord mortgages).

We have had an offer accepted on another house for £103,000 (needs a bit of modernising but others on the street are on the marked for over £140,000.

My credit history is poor - i've get a CCJ for about £2000 from June 2008, several defaults on loans on credit cards (I have made arrangements with all creditors to pay back the money at a lower monthly payment) I currently have about £30,000 in unsecured debt. I was young and stupid and i'm now paying the price! My partner's credit history is clean though.

I have spoken to accord who instantly refused to port my mortgage because of my CCJ. After explaining that the area we live in is going downhill and we want to move before we go into negative equity, they agreed to do an application but can't promise anything.

Does anyone know of any other lenders who may accept us? Our joint income is £32000 and I have a part time job that pays £3500 a year on top. We need to borrow about £88,500 against a house purchase of £103,000.

Thanks in advance

Never mind.

Hope this helps.

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