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Right to buy
pukkamum
Posts: 3,944 Forumite
We are thinking of buying our council house but having never been down this road not sure of best way to go about it have had many leaflets through the door about it but wary of these companies. Also can anyone tell me if having adverse credit wil prevent us from buying it.
I don't get nearly enough credit for not being a violent psychopath.
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post on the mortgage board for advice. you probably need to see a whole of market mortgage broker who will know who will accept you. Don't apply to mortgage lenders trying your luck as this will affect your credit rating.
i would suggest posting on the mortgage board, details needed are salary, property value, mortgage required. also your credit - satisfied CCJs, late payments or what?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
pukkamum
under NO circumstances use ANY of these companies to exercise your right-to-buy.they charge anything up to 4% of your house value along with using very expensive lenders thus recieving very handsome commisions!!
go to an INDEPENDENT mortgage broker and firstly ask their fee. adversr credit history is not impossible but remember- your mortgage will be a lot more than your rent ! adverse mortgages arent cheap, a deposit would be very helpful to you-have you saved C 5% ?remember always -'' life shrinks or expands in proportion to ones courage''0
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