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
Will I be able to get a mortgage with bad credit if my Nana pays a £50,000 deposit?
danstephens
Posts: 9 Forumite
I've just got past the moratoruim period on a debt relief order (1 year) which will be on my credit file for another 5 years so I am now ok to earn higher wages.
My nan has offered to pay £50,000 on a deposit on a flat costing £100,000.
Will I be accepted for a mortgage if I am working?
If not, would my nan have to buy the house in her name? How long would it take of me working steadily before I can have it transfered over into my name? (if my credit file allows it) And, would this bump up costs with solicitors fee's?
Or may it be ok to have it my name, soon as my nan is paying £50,000 upfront?
My nan has offered to pay £50,000 on a deposit on a flat costing £100,000.
Will I be accepted for a mortgage if I am working?
If not, would my nan have to buy the house in her name? How long would it take of me working steadily before I can have it transfered over into my name? (if my credit file allows it) And, would this bump up costs with solicitors fee's?
Or may it be ok to have it my name, soon as my nan is paying £50,000 upfront?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards