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bad credit mortgage
cherylanne_2
Posts: 28 Forumite
Can anyone recommend any bad credit mortgage lenders? I need to buy to save money what with paying 1000 in rent each month I am having trouble clearing my debts. I figure if I buy a small property I would be paying out less each month and could also rent a room out. This would free up a lot more money for me to clear my debts. However, as I am classed as 'adverse credit' I'm not sure how to go about it.
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cherylanne wrote:Can anyone recommend any bad credit mortgage lenders? I need to buy to save money what with paying 1000 in rent each month I am having trouble clearing my debts. I figure if I buy a small property I would be paying out less each month and could also rent a room out. This would free up a lot more money for me to clear my debts. However, as I am classed as 'adverse credit' I'm not sure how to go about it.
1000 pcm in rent? This seems like a lot of money to be paying just to rent somewhere. Where abouts in the country are you? If you're in London then maybe that's not too bad. If you don't have children to think of, you could always move to a cheaper rental place, or perhaps even move into a flat/house share. It might not be ideal, but the only way you're going to save for a deposit or to get yourself out of debt is to save cash where you can.
Hop over to the DFW (debt free wanabee) forum - they've got plenty of money saving tips.0 -
It is a lot of money but I live in Surrey, just outside London, and having looked around at other places I can't find anything for less than 950, and as my son is in education here I don't really want to move away from the county yet. It is cheaper for him to stay at home with me than pay for living accommodation elsewhere, we did look into that. I really need my own home and not a share because of this and also the fact that my mother comes to stay when she is not well. I feel really trapped! However, will hop over to the debt free wanabee forum in a mo.......thanks0
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