Will I ever get a mortgage again?

sparky23

I have been blacklisted and want to move house. I got my current mortgage while blacklisted but I know there arnt many options at the moment.
Does anyone know if there are still companies offering mortgages to poeple in my position?

Many thanks

herbiesjp

Do you mean adverse credit history?

What kind of bad credit do you have?

sparky23

I have a £4500 visa card which went to creditors nd I now pay regular monthly payments.

I have paid for my credit report and it shows default

Thrugelmir

sparky23 wrote: »

I have a £4500 visa card which went to creditors nd I now pay regular monthly payments.

I have paid for my credit report and it shows default

So you can afford to move house but not clear your credit card debt?

Get your priorities right and rebuild your credit rating. :rolleyes:

peterpan12_2

Last comment is slightly harsh considering you dont know the whole story.

I have adverse credit from previous creditors and im paying it back, I want to move house as I need somewhere bigger for the family, just because i cant afford to clear all my creditcards in one go doesnt mean I have things the wrong way around.

Making an agreement with the creditcard company is the sensible thing to do, I know people who have just ignored them and changed addresses, never paid them and now have started again 6 years on......

There are companies out there that will still deal with the sub prime but they will charge you more than others, try thinkmoney.com, they are the parent company of the debt management plan I use and they will find someone for you, very helpful but I do think they charge for the service.

sparky23

Yes, I have a £4500 credit card that went to creditors, I now make regular payments.

My credit file shows a default for the whole amount?

sparky23

Peterpan thanks so much for your advice.

I now have a daughter and need to move as our house is too small.

Thanks for not judging me

Thrugelmir

peterpan12 wrote: »

Last comment is slightly harsh considering you dont know the whole story.

I have adverse credit from previous creditors and im paying it back, I want to move house as I need somewhere bigger for the family, just because i cant afford to clear all my creditcards in one go doesnt mean I have things the wrong way around.

Making an agreement with the creditcard company is the sensible thing to do, I know people who have just ignored them and changed addresses, never paid them and now have started again 6 years on......

There are companies out there that will still deal with the sub prime but they will charge you more than others, try thinkmoney.com, they are the parent company of the debt management plan I use and they will find someone for you, very helpful but I do think they charge for the service.

I'm not judging anyone. My comment is factual. If you want to improve your credit rating you need to address the issue.

My comments are intended to be helpful. As by clearing your debt. You will demonstrate your ability to manage money.

Banks lend money on facts not life stories.

We've all got life scars. Channel your energies positively and you will be rewarded. May be a few years away but well worth the effort.

Conrad

Beacon homeloans and Platform can consider the case, but the other lender's will want super high rates so are'nt realistic options.

Beacon and Platform are very strict, and above all you need to demonstrate how it is you will be able to afford the new mortgage and what has changed since your not being able to pay existing credit. Lenders have to demonstrate the loan to you will be made responsibly and that you can sustain the payments, even if rates rise (even if you take a fixed rate as fixed rates come to an end).

You'll need at least 20% desposit and youre income and job need to be robust.

Best of luck.

Jonbvn

sparky23 wrote: »

Thanks for not judging me

Nobody is judging you, just giving honest advice.:rolleyes:

Please understand that the whole financial world has changed massively since 2007. All lenders now apply very strict criteria on lending decisions. Whatever the reason, you have recently proven to be a poor credit risk, and all lenders wil be very wary of lending to you. This is a fact not an opinion.

uzubairu

Not enough facts provided for the more informed guys to give you advice.

Income and mortgage current mortgage?
Do you have equity in your current home?
What value of property are you hoping to upgrade to?
Do you have a deposit?

You may have to accept that you might have to clear some more of your debts before you start looking.