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What's my chances?
TigerWoods_2
Posts: 1 Newbie
Hey all...
First time buyer here ... (Hopefully)
Right...
Ive been offered to buy my nans neighbours house...
It was valued this year at £115,000
Ive been told that if i want to buy it they will let me have it for £75,000
I have £8,000 in savings
No debt,
My annual income is £23,000
But my credit score comes up as poor
(630)
Because of a bad phone bill five years ago...
Would the banks touch me?
Thanks.
First time buyer here ... (Hopefully)
Right...
Ive been offered to buy my nans neighbours house...
It was valued this year at £115,000
Ive been told that if i want to buy it they will let me have it for £75,000
I have £8,000 in savings
No debt,
My annual income is £23,000
But my credit score comes up as poor
(630)Because of a bad phone bill five years ago...
Would the banks touch me?
Thanks.
0
Comments
-
well you would need a minimum of 10% deposit even with a squeaky clean credit file which you have implied you don't have plus money for fees etc. You really need to go visit a mortgage broker to discuss your exact circumstances and what impack if any a bad phone bill 5 years ago would have.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
0 -
Why is the neighbour giving away £40k?0
-
The house will be valued at whatever you pay for it - as far as I know gifted deposits are only possible from family members. So the lender will work out your LTV using £75,000. You will need about £10k and a perfect credit file. I would be suspicious of why they're willing to wave goodbye to £40k0
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