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Big deposit, few defaults, will i get a mortgage ??
vinnyman72
Posts: 1 Newbie
Hello all,
This is actually advice for a freind who's recently lost his Dad, he lived with his Dad and is still currently living there, other siblings would prefer to have my freind to continue living there but unfortunately can't get a mortgage (his sister) although my freind hasn't actually tried for a mortgage for the remaining 44 k remaining on the property due to temporarily not working, the house is worth approx 190 k.
I think my freind has resigned himself to selling and buying somewhere cheap but with a job would he be able to get a mortage for approx 50k if he had a 18k per year job and a 50 - 60 k deposit. I would imagine that with such a large deposit his chances will hugely increase. He did a credit check a little while and couldnt see any ccj's but there were a few defaults on there...
Could anybody please advise as to what would be the best plan of action. He would rather stay in the family home if poss....
He's obviously bit blue at the mo and using the family solicitor but is unclear and worried for now so any advice would be brill.
Cheers Folks, Vin... :beer:
This is actually advice for a freind who's recently lost his Dad, he lived with his Dad and is still currently living there, other siblings would prefer to have my freind to continue living there but unfortunately can't get a mortgage (his sister) although my freind hasn't actually tried for a mortgage for the remaining 44 k remaining on the property due to temporarily not working, the house is worth approx 190 k.
I think my freind has resigned himself to selling and buying somewhere cheap but with a job would he be able to get a mortage for approx 50k if he had a 18k per year job and a 50 - 60 k deposit. I would imagine that with such a large deposit his chances will hugely increase. He did a credit check a little while and couldnt see any ccj's but there were a few defaults on there...
Could anybody please advise as to what would be the best plan of action. He would rather stay in the family home if poss....
He's obviously bit blue at the mo and using the family solicitor but is unclear and worried for now so any advice would be brill.
Cheers Folks, Vin... :beer:
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