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Any hope
mortgage_help_3
Posts: 109 Forumite
Hi
I am wondering if there is any chance I will be able to get a buy to let mortgage.
I have a very poor credit rating (378) due to large amount of debt. I have inherited a property which needs some work doing to it but I would easily be able to get £550 per month rent.
So my idea is to get a mortgage which would pay off some of my debts and give me enough money to do the work to rent it out.
Do I have any chance of getting mortgage or am I living in a dream world?
I am wondering if there is any chance I will be able to get a buy to let mortgage.
I have a very poor credit rating (378) due to large amount of debt. I have inherited a property which needs some work doing to it but I would easily be able to get £550 per month rent.
So my idea is to get a mortgage which would pay off some of my debts and give me enough money to do the work to rent it out.
Do I have any chance of getting mortgage or am I living in a dream world?
0
Comments
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Do you have CCJs, defaults, missed payments?
Have you got an up to date copy of your credit file?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No CCJ's, no defaults & a few late payments.
I have a upto date credit report but not credit score (378 was in November 09), since then I a loan finished - will that have improved it?0
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