Mortgage with adverse credit

leereni

I am 31 years old earning about £34000 basic with about £4000 a year pay.

I'm single. I have a loan which was settled february 2007 however before being settled I was behind in payments which is annotated on my credit file. However it's not listed as a default.

About 6-7 months ago I had about 2 months when I was a month behind a couple of accounts however now showing paid on time for the past 6 months. I also have a loan which I'm behind on but planning on paying arrears and paying on time.

Ok, I would like to buy a flat as a first time buyer in about 6 months. Anyone have an idea of what my chances are of getting a shared ownership mortgage for about £50000. How much deposit will I need? Of course I know the answer will probably be as much as I can get but realistically what's the minimum?

Thanks and any advice would be grateful.

leereni

Sorry meant to say I earn £34000 plus £4000 overtime.

CloudCuckooLand

I'd suggest you concentrate on not missing any more payments anywhere, for at least 6 months, perhaps 12.

If you did manage to scrape a deposit together, the chances of getting approved with multiple, sporadic credit issues is at best going to result in a poor deal, at worst being disapproved.

10% deposit is minimum, 20%+ will get a better deal.

jaoidg

Have a look at platform they may be able to help you.