Mortgage Advice please

Sinfullou

Here goes, it's a bit of a long story that I'll try to keep short:

Have been renting a property for the last 3 1/2 years, since the break up of my marriage. Been really happy here, however the landlady decided she wante to sell, then wasn't going to, then wanted a new 6 month contract signed and 6 months up front (£4,500), which I couldn't do, so she's given me 2 months notice to move.
The area that I live in does a 'lend a hand' mortgage scheme which I thought would be great. However, there are now 2 quite big problems that I hope I can get some help on.

1) When I went to see the bank involved in the scheme they did a credit check on me that came back negatively and the mortgage adviser said they wouldn't lend to me. I checked with the credit expert website and I can't find anything on there. There are some late payments but not recently, no CCJ's or anything. I'm really careful with my money.

2) Everyone requires a 5% deposit and that's not something I can lay my hands on right now.

Am I better off renting and trying to save the 5% deposit? What's happening with my credit report?

Many thanks for reading.

Louise x

Dave_Ham

Hi Louise,

Check Equifax also, they are another credit referencing agency and therefore it may be in their report..

Either way, without a deposit it will be difficult.

There are a couple of 100% mortgages available but depend upon family financial circumstances.

That said both these and the 95% mortgages rely heavily upon a squeaky clean credit file....

I wish you well....