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Mortgages

bugs_whats_up_doc
Posts: 33 Forumite
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?
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?
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Comments
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You won't get a mortgage unless you have a deposit of at least 10% and I'm guessing that you don't?
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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.0
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