RTB mortgage??

kaijack

Hi all,new on here so be easy on me

My partner and i have the right to buy our council flat for £34000 and the value is £92000. Now the thing is are we living in a dream land thinking we can get a mortgage for £34000,my partner was bankrupt 6 years ago and is not showing on her credit reports any more and she has a bank account and 1 credit card with £650 credit and £400 used, her score is 480 and report clean,she earns £20000,she has no other debt in her name. I earn £32000 have 2 credit cards £10000 total for the 2 outstanding, £200 month car payments £13000 total outstanding and £250 month loan to finish next year, £230 month£2200 mail order to finish by end of year. i have 1 late payment for my mobile 6 months ag otherwise a a clean report and a score of 640.

We have savings of £2500 so can pay the mail order off or her card if need be, what do you think people?

joint Income £52000
outstanding debt £30000
Will get £58000 discount on flat so need £34000 mortgage with no deposit Right To Buy.

Cheers All

leveller2911

Hi and welcome to the board. I'm sure more qualified posters will be along soon.

My opinion would be for you to clear the debts first and save like mad.Put yourself in the Banks shoes, would you lend you money?.

I wish you luck......

ACG

It shouldnt be a problem.

I think you will need an advisor to find a lender who isnt on the high street but i definately wouldnt say you are living in dream land.

kaijack

Many thanks for your reply's,..ACG would it be better to do the mortgage in my name only do you think?

Thanks again

kaijack

Any idea what the average % is now on a right to buy mortgage any one? Also any other quilified or experianced people on here wish to comment,

Many thanks