Idiot with bad credit looking for advice

Keefaz

I've always been terrible with money and, as such, have a very poor credit score. I'm 33 and my girlfriend and I have decided the time has finally come to stop renting and find a place of our own. She has a very good credit rating: as she's not an idiot at all. Her parents have kindly offered to give us £35k towards a place. We guess it's an offer that will not be around forever and want to take them up on their generosity before their come to their senses.

Currently, we're not high-earners as we both recently left well paying, but boring, jobs to do things that interest us. Our combined income is only around £25k pa. Don't laugh.

We're not looking for anywhere grand: just a basic flat ~£125k.

What should our next steps be? How grim is our situation bearing in mind my credit rating? What kind of mortgage could we get?

Thanks,

Keith

opinions4u

Cards on the table.

What, specifically, are the problems with your credit file.

Events and dates. CCJs, defaults, missed payments etc.

Keefaz

opinions4u wrote: »

Cards on the table.

What, specifically, are the problems with your credit file.

Events and dates. CCJs, defaults, missed payments etc.

Hmmm... Don't have exact dates/amounts. Would those be shown on an Experian report? Would a lender ask for that info?

No CCJs. Quite a few missed payments on various bills, etc. The past year, I've been sorting out my terrible past and am in the process of paying my debtors. I have a few months left to pay off my outstanding CC debts (Barclaycard) and an old utility bill. After that, save for my student loan, I'm debt-free.

MyMFDream

plus what financial commitments, if any, do you both have?

GMS

If you have had no defaults or CCJ's in the last 2 years and your unsecured credit profile is not too bad then you may have options.

Speak to a whole of market mortgage broker to see how you could proceed.

Get copies of your credit report from Equifax, Eaperian and Call Credit. Get the £2 statutory reports, not the free trials which can be difficult to cancel. Do not pay for credit scores, they are useless.

Keefaz

MyMFDream wrote: »

plus what financial commitments, if any, do you both have?

No financial commitments. Our only outgoings are on rent etc. and we put a tiny bit aside in a savings account.