How will I ever get a mortgage??

Thelaw

Hi there,

My fiance and I had a mortgage agreed back in April 2008. However the house we loved ended up falling through. Now we are struggling to get another mortgage. We have been refused once and I am scared about enquiring again.
I have a excellent credit rating however my other halfs is not very good at all. We have around a 15% deposit. Does anyone know any lenders who will lend to someone with bad credit? Will we have to wait 5 years for it to be cleared off of his credit report?
We have got him a Cash Builder card to try and get his credit up again, but he has been refused credit cards. Will we ever be able to get a mortgage???!!!!

TEDDYRUKSPIN

Try an independent financial adviser. At this current climate, it will be very difficult.

My answer would be, what is wrong with renting in the long run and increasing the deposit / saving in the long term?

_Andy_

When you say his credit is not good, could you elaborate - what is the adverse credit exactly?

Pee

is it an option to apply in just your name?

Otherwise, it's just a matter of time and effort to change a bad record into a better one.

Increasing the deposit is def a good idea.

jaoidg

Does anyone know any lenders who will lend to someone with bad credit?

Try platform, ive just used them and they have been very good i have a defult which is 5 years old.

2 and half weeks turn around. from start to complete

Will we have to wait 5 years for it to be cleared off of his credit report?

You will have to wait six years!

Good luck i know how you feel, alls well that ends well.

mortgagemicroscope

There are still some options out there depending upon the history...CCJ's arrears, defaults dates etc. Also get a credit report to see how bad it is...Experian or Equifax normally!