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Mortgage brokers - advice please
Essexboy22
Posts: 1 Newbie
Hi, here's the score.
My credit history is shot due to some tough times at the end of 17 years of self employment. Now well ensconced in a new job, 16 months.
I have four defaults, no ccj's but one charging order at my current address. I do have bundles of equity, so the charging order will be satisfied out of the sale proceeds.
I'm earning £40k, and will have around £170k to put down as a deposit. I'm 50 next year.
What chances have I of getting a mortgage? If any, at what rate? And over what term?
Any advice gratefully received.
Many thanks
My credit history is shot due to some tough times at the end of 17 years of self employment. Now well ensconced in a new job, 16 months.
I have four defaults, no ccj's but one charging order at my current address. I do have bundles of equity, so the charging order will be satisfied out of the sale proceeds.
I'm earning £40k, and will have around £170k to put down as a deposit. I'm 50 next year.
What chances have I of getting a mortgage? If any, at what rate? And over what term?
Any advice gratefully received.
Many thanks
0
Comments
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Maximum term is generally until you reitre - 67ish?
How much are the defaults for, when were they issued and have they been satisfied? if so when?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 -
Always possible when there is a large deposit for an ongoing mortgage.
Few challenges here though, so would suggest you see an experienced or specialist broker.
Hard to say without details of the dates and amounts and whether the defaults were satisfied and when.
Also, be interested what sort of credit commitments you are currently paying and behaviour on these...I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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