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Anyone know of a mortgage company who offer 85% mortgages to people with bad credit?
GMason100
Posts: 2 Newbie
Hi, please can anyone offer any help or advice on the following situation? -
My husband and I have a 15% deposit saved and are having great difficulty finding a mortgage company who deal with bad credit and are willing to accept a 15% deposit (most tend to be 20%).
My husband has one default which is over two years old with nil balance owed but this is obviously restricting us with regards to who can offer us a mortgage.
We had a mortgage in principle secured with a company called Kensington but they have recently changed their deposit requirement to 25%. We had an offer accepted on a house and have handed in our notice with our landlord only to find out Kensington have upped their deposit and now we are desperately trying to find a company who will accept the default and a 15% deposit before we have to withdraw our offer.
My husband and I have a 15% deposit saved and are having great difficulty finding a mortgage company who deal with bad credit and are willing to accept a 15% deposit (most tend to be 20%).
My husband has one default which is over two years old with nil balance owed but this is obviously restricting us with regards to who can offer us a mortgage.
We had a mortgage in principle secured with a company called Kensington but they have recently changed their deposit requirement to 25%. We had an offer accepted on a house and have handed in our notice with our landlord only to find out Kensington have upped their deposit and now we are desperately trying to find a company who will accept the default and a 15% deposit before we have to withdraw our offer.
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Comments
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There may well be a lender for you but without knowing your circumstances it would be unfair to say. Best to speak to a broker and see if there is another option.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Current position is as follows:
19k deposit
looking to buy at max price of £125k
Credit rating is currently 'good'
1 x default on credit file (£4000) in nov 2009, completely satisfied as of november 2011.
looking to take out a mortgage as a single applicant.
Like i mentioned kensington was prepared to offer me a mortgage but have now changed their criteria to max ltv 75%.
Is there any options.....0 -
need to put salary up,also any current debt credit cards ,o/draft, loans etc0
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