Mass confusion!!! Keyworker with poor credit history need advice.

Datsun120y

Hey guys,

Hoping for someone to point me in right direction.

I would love to own my own home but am not sure which path to take or where to start. I am a teacher so qualify as a keyworker. I am also a social housing tenent in lovely one bed house but not the nice relaxed location i would like. Ideally I would like to find a house on the open market in nice area with support from key worker scheme.

However, I have a poor credit history. One ccj which has one year before it is wiped off but is only £100 so could pay it now and default on a loan from bank due to be removed from record in one year. I doubt i will qualify for any schemes let alone a mortgage!!!

I have no deposit but now debts are under control i can save £400 pm into an ISA in two years that gives a 10,000 deposit.

Trouble is I just need some advice and direction to get to my goal how can I make it happen guys??? Help please.....

Running_Horse

How many on this board would love to be given a lovely one bed house at social rent? Stay there and save the deposit you will need when the time comes to buy. But first pay off all your debts to show a future mortgage provider you are not financially clueless. Tough times are coming for those paid by the taxpayer, and in a just society we would all be "key" workers; the person who drives your bus, sweeps your road, serves you in the shop, fits your carpet, etc.

housebuyer_abc

Running_Horse wrote: »

How many on this board would love to be given a lovely one bed house at social rent? Stay there and save the deposit you will need when the time comes to buy. But first pay off all your debts to show a future mortgage provider you are not financially clueless. Tough times are coming for those paid by the taxpayer, and in a just society we would all be "key" workers; the person who drives your bus, sweeps your road, serves you in the shop, fits your carpet, etc.

Yes I've never understood how some jobs can be described as key whilst other essential services are not...

Jowo_2

If you've determined that you can save a decent deposit in 2 years and have access to low cost home ownership schemes, plus your debts are under control, what is the actual problem?

There is generally no short-cut other than to have a good credit history and save for a deposit, even with the affordable home ownership schemes you seek.

Cannon_Fodder

£10k in two years is a good target to have.

Make sure you avoid any fresh problems with your credit.

Time passing will help the old issues become less important.