Will i be able to get a mortgage with bad debt

Ids61

Hi my wife and I both have in my opinion a very bad credit history, due to the usual circumstances that won't bore people with. We both have ccj & a charging order defaults etc.charging orders seem to be a enforcement measure of choice these days even if you are making payments to the account.This happened all in the past few years.

That's the bad news,the good news is that even paying off all our debts, on sale of our home we would still have substantial equity circa 130,000-160,000. My question is would our existing lender or other companys grant us a new very small loan.House prices are very high in our area so to buy anything decent I would still need a small mortgage.we are both employed now and can verify our income
Thanks for any advice

_Andy_

What mortgage amount are you looking at?
Who is your current lender?
With the adverse no high street lender will touch you - best bet would be to speak to a whole of market broker.

Ids61

_Andy_ wrote: »

What mortgage amount are you looking at?
Who is your current lender?
With the adverse no high street lender will touch you - best bet would be to speak to a whole of market broker.

Thanks for your reply my lender is intelligent finance and perhaps 25- 50 k all depends on price on sale redemption of supposidly unsecured loans etc

_Andy_

IF won't touch the case, speak to a broker.

Conrad

A small lender such as Melton could consider this with a rate of c7%. They will need last 6 months Bank statements and in esscence will be looking for you to PROVE the future repayments are sustainable, and that your past difficulties are behind you now.