Mortgage with bad credit but 40-50% deposit?

whenispaydayagain?

Just a quick question/request for advice about applying for a mortgage

The house I am in currently is being sold by the landlord for £79k and I am thinking that I would like to buy it (I imagine I could get a couple of grand knocked off as he is after a quick sale)

Problem is my credit score is pretty poor. I had a CCJ about 5 yaers ago and defaulted on a few loans when I was younger (again about 5 years ago) and I have struggled to get any sort of credit ever since.

Long and short of my question is would having a £35k deposit make any difference when applying for (and more importantly getting) a mortgage?

My salary is £17k but with regular O/T my annual income is around £20-22k.

Are there any companies/lenders that would be more likely to give me a mortgage than others? Or am I wasting my time?

GMS

Speak to a broker. There are lenders out there who will consider historical adverse credit.

Where abouts is the property?

whenispaydayagain?

OK I will have a ring around in the next few days once I know that the funds (deposit) is actually available.

Many thanks.

The property is in Middleton.

chopper78

Well I guess it depends where that £35k deposit is coming from. If it is your savings and you're adding to it on a monthly basis, then I cannot see why you wouldn't get a mortgage.

If, on the other hand, you're going to the bank of mum and dad, (or robbing a regular bank), and you are struggling to save money every month, or maybe your credit card balances are going up every month, then you might struggle.

whenispaydayagain?

It would be the bank of mum and dad as opposed to £35k in savings (although £5k would be from savings).