Problems getting a moprtgage

monkquito

Hi,

Need some help.

My wife has a good size deposit for a house, and we both have good well-paid jobs. Now, while time is on my side for a mortgage I presently have a bit of a credit problem whilst my wife is clean. Is there anyway around at present of us both getting a 90% to 95% ltv mortgage.
Once we are on the mortgage ladder and out of the exhubrent size rent we have to pay for the size of my family, my debt could be well tackled.
Thus, does any one know of any deals going or who we could speak to, to get a mortgage sorted....

Cheers:rotfl:

benjo

I dont think any of the advisors can fully answer you without further details

Salary/ deposit/price of house
Debts/ccjs/defaults/missed/late payments
Etc etc

maninthestreet

If you have a 'good size deposit', why are you looking for a 95% LTV mortgage?

Mrs_Bumble

You need to explain your situation more fully.

Income
property price
deposit
outstanding debts
credit history problems

etc

monkquito

Income :about £50k joint, we are both government sector workers and could get income up to about £55k if desired.
property price:about £200k
deposit: we have £13k but could get upto £20k if desired.
outstanding debts: 25k for one of us only
credit history problems: only defaults

hope this helps

housebuyer_abc

monkquito wrote: »

Income :about £50k joint, we are both government sector workers and could get income up to about £55k if desired.
property price:about £200k
deposit: we have £13k but could get upto £20k if desired.
outstanding debts: 25k for one of us only
credit history problems: only defaults

hope this helps

But this means that you need a 90% LTV at best and an income multiple of nearly 4 times salaries.

This is before they look at the 25K outstanding, put simply its going to be very tricky. You need to look to getting the deposit to nearer 15%- 25% and lowering the outstanding debt

Thrugelmir

monkquito wrote: »

Income :about £50k joint, we are both government sector workers and could get income up to about £55k if desired.
property price:about £200k
deposit: we have £13k but could get upto £20k if desired.
outstanding debts: 25k for one of us only
credit history problems: only defaults

hope this helps

Clear the debt first. Then save for a deposit.

happybroker

if you have defaults then 90% ltv is not going to happen I'm afraid. Sorry I couldn't be more positive.

The debt will, as previous posts mention, have an impact on the amount you can borrow but the main issue is your history.