first time buyer

shopaholic232

Hi everyone just wanted your thoughts on my situation. I am currently looking at buying a house through co ownership so would be 50/50 so the house is 150000 and i would be going for a mortgage on my own for 75000. I currently earn 31000 per year and have been in the same employed company for the past 2 years, what is the chances of getting this mortgage amount with having 3 late payments on my credit file from 2008? my broker seems to think i have a good chance but just wondered if anyone else had any thoughts or advice?

poppy10_2

How much deposit have you saved up?

shopaholic232

Hi i dont have a big enough deposit and thats why i was advised to go through co ownership, the thing that is worrying me is that after checking my credit file i have a defaulted account from 2008 i missed 5 payments but then got the account also paid in full in 2008, my mortgage broker doesnt seem to think it will cause a problem but i feel like it might, what is your opinions please?

poppy10_2

How much deposit have you saved up?

shopaholic232

I have 4000 saved but thats why my broker has advised me to go with co ownership as even i could get a bigger deposit from family they said i am better to go with co ownership to start as first time buyer i will have more chance

shopaholic232

what is the chances of getting this mortgage amount with having 3 late payments on my credit file from 2008? my broker seems to think i have a good chance but just wondered if anyone else had any thoughts or advice? any ideas please anyone?