In the money, please advise!

sismith

Hi there, well i'll keep this short and sweet,

I am a 30 yr old ex british soldier, i have 2 defaults against my name from may 2007.

i currently rent a property in the UK but work 8 months of the year in Iraq as a security consultant (New Job). The pay is excellent with me taking £65000 net over a 12 month period.

i am in a situation now where in the next few months i will have around £25k-£30k sat in my account. With the house prices being low at present should i get onto the property ladder and try for a mortgage with the £30k deposit but having 2 yrs left until my defaults come off my credit file (is this true they last 6 yrs?), or should i do another 2 yrs of saving, wait for defaults to be removed but the house prices rise?? i have never had a mortgage, have no debt and whilst in Iraq can spend no money as all is provided to me by employer (flights,daily meals,drinks etc.)

please could someone help me in my quest for setting up a home?

regards

Si

dimbo61

Keep saving house prices are going to stay stable for some time so build up savings in cash ISA,s and regular savers. When you return to England in 2 years you will have a big deposit and good credit score.