First Time Buyers

Tinkerlybell

We're looking at buying our rented house but don't really have a deposit. 1 of us has been made bankrupt but has been released from it a while ago.

We are looking at how much we could borrow before we go to our landlord because we know he didn't pay a lot for the house so the sale price shouldn't be in excess of £100,000, if it is we'll keep paying rent the house is not worth that much!

Any ideas of where we could look?

opinions4u

I'd try a mortgage broker first.

But you've got two key problems:

1) No deposit - you wlll almost certainly need a minimum of 10%-15% of the purchase price saved.
2) Chequered credit history - you will be asked the question "have you ever been bankrupt?" and the credit files will almost certainly show the fallout from the bankruptcy situation.

So I suspect you will be renting for a fair bit longer.

_Andy_

Tinkerlybell wrote: »

We're looking at buying our rented house but don't really have a deposit. 1 of us has been made bankrupt but has been released from it a while ago.

We are looking at how much we could borrow before we go to our landlord because we know he didn't pay a lot for the house so the sale price shouldn't be in excess of £100,000, if it is we'll keep paying rent the house is not worth that much!

Any ideas of where we could look?

There is nowhere you can look. Zero deposit anyway would kill any chances, never mind the heavy adverse credit.
Sorry but you'll just need to start saving.