Mortgage with bad credit

bluesmartie_2

I am looking to get a mortgage with my boyfriend. He has an A+ credit history. I on the other hand have always been bad with money until the past 12 months. I have a CCJ from 2008 for £6000 which I have not paid off and a few defaults but nothing in the past 12 months.

I earn £20,000 and my boyfriend earns £31,000.

We have seen a new house deal where we only need a £6000 deposit along with the house builder giving us an interest free loan for 10 years to help. Is there anyway I could get a mortgage with my boyfriend for £120,000?

Any advice would be very helpful.

VIGILANT22

You have no chance............

bluesmartie_2

Is there anything I can do in the next 18 months to get a mortgage?

We have the deposit and my boyfriend has a flat he is selling so he is not a first time buyer.

Would it help if I paid off my CCJ?

VIGILANT22

bluesmartie wrote: »

Is there anything I can do in the next 18 months to get a mortgage?

You need to clean up your credit file:

No defaults, everything on Direct Debit and sufficient funds in bank to cover.
Settle this CCJ, ..why is it outstanding?
No guarantee then you will be considered for a mortgage, as it is difficult to know what the criteria for mortgages will be next week never mind 18 months away....

bluesmartie_2

I was not aware I had it until I checked my credit file. I had moved out of a house with an ex partner .... its a long story. Anyway I will pay this off and endeavor to keep everything ticking over. So there is absolutely NO chance I will get a mortgage even with the biggish deposit!!

VIGILANT22

Do you realise by financial association you would be transferring your adverse credit status to yr bf....not good.....concentrate on cleaning up credit file and getting back on track....as yr clearly not with a deliquent history (defaults)

leveller2911

My advice would be o pay off your debts , knuckle down and save for a year or two.IMO house prices will not be going up over the next few years.You might see the odd .3%, .5% etc but make no bones about it ,after the election the deficit will need to be addressed and plenty of bad tasting medicine will make the market stagnate at best and fall at worse......Show the banks you can be trusted with money.The days of lending fe ckless people 125% mortgages are long gone.....

leveller2911

OP you may think replies are a bit harsh but the reality is credit won't be as free as it was 2yrs ago.

herbiesjp

Have you thought of your bf buying in his sole name for the time being?

leveller2911

herbiesjp wrote: »

Have you thought of your bf buying in his sole name for the time being?

Living together is a partnership and it takes 2 to run a home , Just my opinion and Im not a Mortgage advisor but to me that would be bad advice suggesting the bf buys solely in his name when the OP clearly has debt and money management problems.....

VIGILANT22

leveller2911 wrote: »

Living together is a partnership and it takes 2 to run a home , Just my opinion and Im not a Mortgage advisor but to me that would be bad advice suggesting the bf buys solely in his name when the OP clearly has debt and money management problems.....

Ye particularly when it is obvious the OP is planning to live there...and the mortgage adviser should know if a sgl mortgage is to be based on 2 people living there lending would be reduced....or was someone going to suggest it would only be 1 person living there....rolls eyes...