Mortgage help please

DuN247

Hi All,

I am looking for a mortgage for a shared ownership property but I do not think I have a good credit history. Looking for 50000(25/75)
My Equifax report shows I have 1 default for 1800 on a credit card with LTSB dating from 2008. In 2006 I entered onto a debt management plan and have been paying smaller monthly installments since. I have 3 more creditors on my DMP but they have not registered a default, only up to date payments. My total debt is about 8000. I have never missed or been late on a payment for the last 4 years.

I am in a steady retail job and make around 18000-19000pa.

I have about 7000 for a deposit.

I have made a few inquires to mortgage brokers but no luck.

Is there any hope? Any help appreciated :j

Regards,
DuN

P.S - I hear good things from RBS and nationwide?

_Andy_

ISTBC but I'm not aware of any lenders that offer SO mortgages with adverse credit.

DuN247

Hi Andy,

Thanks for the reply. Do you think it would help if i had a guarantor or if i entered into a joint ownership?

Regards

_Andy_

It won't affect things I'm afraid - a guarantor is only a benefit if income is an issue (and here it's adverse credit that is).