Advice appreciated - first-time buyer

chequeout · 23 February 2010 at 4:12PM

Hey all

Thanks in advance for reading this and thanks if anyone of you reply :beer:
Basically, I'm a 34-year old male in a decent enough job in London (36k per year plus a decent pension) and have never seriously even contemplated a mortgage before because of both the high property costs in London and the fact that I have a dodgy credit record (lots of former debts etc and I'm on a DMP with the CCCS).

However, my credit file is improving (most defaults etc on there have been wiped off under the 6-year rule, there is only one remaining) and all the other things on there are paid up and satisfactory.

I have £10,000 in cash that I could immediately get hold of.

My question is - taking into account my age, circumstances and income, am i a "no-no" for a mortgage application? What is my best plan of action if i want to try? It's just a query, I'm used to the idea that i will be renting forever anyway, but if there is a way then it is worth exploring! And i'm sorry if this is a daft query, as I say, any help would be appreciated before I commence any serious research.

Thanks in advance

:beer: