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mortgage needed - but got debts
Comments
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Troll post is a troll post.0
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You'll have £55k left over once you've paid your debt off.
Which part of the country do you live in? In some areas, this would be enough to buy you a flat or terrace!
As you're 53, then chances are you can only get a mortgage for 12 years, which will make the payments high, and/or may limit the multiples of salary you can borrow. Plus your poor credit rating will rule you out for cheap mortgage rates. What do you earn?Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
I live in the Kent area and my salary is 14.5k per annum.
Mitcharlie0 -
Tbh, that is a low wage...I guess it depends on how much you want to borrow. But if you've not been in employment long, that won't help. You could always speak to a broker to see what they think you're chances are given your circs.0
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mitcharlie wrote: »I live in the Kent area and my salary is 14.5k per annum.
Mitcharlie
Even with your £80k pot of money, you'd struggle to buy the ex-LA house we've just bought with a 3.5 x earnings mortgage and I live in East Yorkshire so you've no chance in Kent.0 -
Last year when I was looking for a mortgage to buy our house (having just accepted offer on ours) I was told by Abbey (at the time) that I would need to pay off a large bulk of the Credit Card debt I had at the time (just repayment debt, no arrears) before they would give me the mortgage.
Once I did this, and proved it to them, they proceeded with the mortgage.
I'd have to concur with others - if I had £80k in cash, the first thing I'd do is pay off my debts, then start considering the next step.0
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