mortgages?

clanbailey

hi everyone

just been a year out of bankruptcy now (or just coming up to) and everything is going really well..... apart from the fact our landlord wants his house back as he is in financial difficulty and wants to live there!!!! our contract runs out at the end of Feb and am PANICING!!!!

ok we are looking round loads of rented houses but its killing me cos some of them you have to pay £600 pm to rent and if I bought it my mortgage would be about £350 grrrrrrrrrrrrrrrrrr

is there anyway us ex bankruptcies can get another mortgage? has anyone suceeded in this and who did they go through - there are so many cheap houses around at the moment its mad.....

please any help would be great

ta

confused76

oh no, sorry to hear this, but don't panic...from what i have heard i think you would struggle to get a mortgage unless you can come up with a hefty deposit we're stuck in the rent trap too so i know how you feel! i hope you get something sorted soon x

dojoman

I am sorry to say that you will find it high on impossible to get a mortgage yet, and if you did, they would require a massive deposit, sorry.

clanbailey

hiya thanks for the replies - at least it puts that option out of my mind as it was knawing away like an animal with massive knawing teeth

bummer ah well carry on looking ..... fingers crossed

Falze

confused76 wrote: »

oh no, sorry to hear this, but don't panic...from what i have heard i think you would struggle to get a mortgage unless you can come up with a hefty deposit we're stuck in the rent trap too so i know how you feel! i hope you get something sorted soon x

Many of us are stuck in the renting trap. Some would sooner have it that way.

diddly74

Falze wrote: »

Many of us are stuck in the renting trap. Some would sooner have it that way.

We are renting now and although I would like this to be our own home the only downside I have met not owning our own home is the fact we have to ask the LL about everything where I am used to sorting everything myself. e.g. heating went kaput the other month - LL told his plumber to come and sort it and the plumber dragged his feet and in the end I got pretty !!!!!! off. If I had been paying him he would've been kicked to the curb PDQ and another engaged.

But on the plus side - we didn't have to pay him!!!! We have a lovely home, great LLs and are happy.

Not long till discharge now! How time flies! :T

Tupperware_Queen

clanbailey wrote: »

hi everyone

apart from the fact our landlord wants his house back as he is in financial difficulty and wants to live there!!!! our contract runs out at the end of Feb and am PANICING!!!!


please any help would be great

ta

I would recommend you go to see your local council's housing dept, they should have an advisor who can give you advice about the housing options open to you. I went to see them in beginning of September, and by the end of October I was in a council flat - I was very lucky, and also had help from CAB, but the guy who helped me was very good, and rang me a few times to check that everything was ok.

confused76

Falze wrote: »

Many of us are stuck in the renting trap. Some would sooner have it that way.

yes that's true, some people prefer rental. depends on your LL though, i hate depending on someone else for the repairs!!

clanbailey

cheers everyone - we have been really happy in this house for 2 years now, LL has let us decorate and do stuff to the house - just a real shame he needs it himself now cos I dont think we will find another like this for the price now as rent has really gone up

think I will go to the council too - ta

oh and I too like someone else paying for the upkeep and repairs but hate having to ask all the time!

right off out to freeze my bits off!!! LOL

Tupperware_Queen

the housing options people at the council will be able to give advice on private renting, part buy and other options too, not just council properties

I initially went to find out about the mortgage rescue scheme, but I didn't qualify, so he helped me look at all my options

roger196

Not an ideal solution, but might be worth considering asking LL if you can stay on as lodgers. The rent in his hands is tax free if below £4250.