We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
bad credit mortgage advice
coventryloyal
Posts: 1 Newbie
me and my girlfriend are looking to buy a shared ownership property, 70k for 50%, we have 10% deposit, may be able to get 15/20%.
problem is i have a bad credit rating (99) with banks. girlfriend has excellent credit rating.
we dont have any debt now and i earn 26k, she earns 14k.
what are our chances?
problem is i have a bad credit rating (99) with banks. girlfriend has excellent credit rating.
we dont have any debt now and i earn 26k, she earns 14k.
what are our chances?
0
Comments
-
Slim to none. Banks will probably question your salary due to poor credit rating, and will offer a max of 4 times your gf's salary which simply isn't enough
I'd ensure your debt is cleared and rebuild your credit rating over the next few years, save your deposit to a bigger amount and re-assess the situation in a years time.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
When I say question, I mean not view you as a potential reliable mortgage payer, thus disregard you from the equation.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards