Can someone with some experience please help me!!

beecher2

jessica4 wrote: »

Thank you all for your replies...some of you clearly need to get a life and stop moaning at others but there you go.
Thank you beechers2 I have reposted this on the debtfreewannabe forum and have recieved some good advice.
DVardysShadow I understand what you are saying but I have had a mortgage for 5 years and all of my creditors are aware of this and have still accepted my token payments.
I do understand to some of you this may seem selfish but
but at the end of the day I am not hurting anyone and sometimes in life you have to be selfish so that you can enjoy your life! We don’t have a long one after all.
I have not had the best start so now I am happy I just want to save and move out and have a nice life, I refuse to work 2 jobs for years and years to pay back old debts before I can start to enjoy my life just to do ‘’the right thing’’

The advice on the other thread is fairly consistent - pay off your debts before saving as you've very little chance of getting a new mortgage without doing so. You may 'refuse' to work 2 jobs for years to pay back old debts, but realistically it is likely that you will have to do so in order for your plan of a new house to come to fruition.

jessica4

Thanks you, I really do not have it in me to do the 2 jobs forever I swear it is killing me already but I can get through it knowing it is only for 2 years.
I do understand that mainstream lenders won't even look at me but hopefully I will find a mortgage through a broker albeit on a high interest rate, but I am fully aware this is my own fault.
Thank you all

rhodesRocks

Shouldn't your creditors be getting the £15,000 you plan on saving for the deposit or am I missing something here?

alexlyne

I really don't get how it is that someone with piles of debt believes they can get a second mortgage (remmeber this folks, she wants 2 mortagages, not one!), when someone like me on above median salary with a wife on a reasonably decent wage too with impeccable credit records and the only debts to our names are student loans would not be able to afford it.

oh, and remember if you have a mortgage at a high interest rate, then you will need 2 jobs to make the repayments!
plus, if you can't afford to pay more because your boyfriend is with his parents, it implies that he's the one saving up, and not you?
I'm just glad you don't owe me money... after reading this I'd be send round the heavies...

begbeer

Jessica, you say that you are not hurting anyone, what about the businesses you bought goods/credit from, how do you imagine they will survive if everyone took your attitude

kingstreet

jessica4 wrote: »

I’m hoping that with a 10% deposit a broker will be able to find us something....do you think this is possible?

I'm sorry. I don't.

Squeaky clean borrowers are having difficulty in obtaining 90% mortgages today.

maninthestreet

OP - pay off you existing debts before taking on any more. If you can afford to save £15,000 a year, then you can afford to pay £15,000 a year off your debts.

dippy

Jessica, it's simple. Whether the lender is a bank who gives your money for a mortgage or a credit card supplier who gives you money to buy things, if you don't repay what you've borrowed, how will they lend you more money?

It doesn't matter that you already have a mortgage, what will matter is what your credit report looks like when you apply for a new mortgage. And it will not be a credit report that says this girl will reliably repay 100,000s of pounds, will it?

FraudBuster

If this is the Swift that you have a secured loan with:

FSA/PN/079/2011
08 September 2011
The Financial Services Authority (FSA) has today fined Essex based mortgage lender Swift 1st Limited (Swift) £630,000 for unfair treatment of some customers facing mortgage arrears.

Continued:


http://www.fsa.gov.uk/pages/Library/Communication/PR/2011/079.shtml

Southend1

OP sorry but you are incredibly selfish and greedy. You are younger than me, already have a home and now want another one even though you clearly can't afford it. I have never been in any debt except student loans which I have now paid off. I have worked bloody hard all the hours god sends and saved for 10 years for my deposit while living in crappy rented accommodation. I am only now buying my first home at age 30. You say you aren't hurting anyone but thousands of people like me are suffering from high inflation and low availability of credit because of people just like YOU.