Urgent mortgage advise needed please

luckyfool

From a cursory reading of your circumstances I suspect a "reasonable" rate may be available in joint names if you can get to a 25% deposit. Otherwise your best bet is likely to be either guarantor mortgages or your partner jointly with his income earning parent. Some lenders will allow the parent onto the mortgage even though he/she would not be living there.

stingray2

Hi,

I think I am in a very similar boat to you, I earn 27k and my boyfrined earns 21k we want a 108k mortgage and have just applied with RBS. Our mortgage advisor has told me that rbs only really look at the last 3 years or so credit and I have a default (bad)I am also thinking of a guarantor martgage too as we only need about 10k more than my boyfriend can borrow,

shall we keep in touch and see if we can help each other out? xx

benjo

Please dont take this as a downer on your hopes - because it really isnt meant that way but....

if your plans dont work out just as you want, just as this moment in time - dont give up on your dreams.

You might have to wait and rebuild your credit file, but think on it this way.....

you learned a valuable lesson (as many of us have) about the long term damage of not being able to pay our bills on time (for whatever reason)

you will have the satisfaction of paying off your debts in full,

you will be proud of yourself for saving a bigger deposit...

and when you finally find the home of your dreams you will be wise/rich enough to be absolutely certain that whatever happens it will not be taken away from you since your lessons in life will serve you well.

I hope you find a deal and really goodluck, keep us informed.