Mortgages

bugs_whats_up_doc

Hi,

Im currently renting with my wife and stepson we've been looking at getting our foot on the property ladder, but i`m a little nervous as my credit score is less than ideal. Iv heard people say they can get a mortgage and use some of the money to clear there debts.

I was wondering how likely it was that a lender would give you a mortgage especially in the current climate?

~Beanie~

You won't get a mortgage unless you have a deposit of at least 10% and I'm guessing that you don't?

vicshippers

Not strictly true Beanie - it's possible through the Homebuy Direct scheme

I have been told that almost anyone can get a mortgage - although you might not want it at the rates/terms offered. I would guess that it depends on what is affecting your credit score - a CCJ would be a lot worse than say only being on the electoral roll for the last 2.5 years.