mortgages for bad debt

gonnabedebtfree

can you get mortgages for bad debt?

we are paying off th last of our debt this year, hubby is starting work next week and we are finally getting on track.

are there places that will give people with bad credit mortgages?

we are in the process of saving £5k for fees etc and inlaws are going to give us the deposit we need.

kingstreet

Presumably you mean mortgages where the potential borrowers have debt debt, rather than a mortgage to repay bad debt?

There are lenders. The interest rate will depend on how much adverse, the type - CCJs, defaults, how many, how long ago and the size of your deposit? That's on top of the usual affordability and general criteria

Realistically, you'll need a deposit of 25% or more, subject to the answers above.

I would suggest a meeting with a whole market mortgage broker to discuss your options. Obtain your credit files from the three CRAs beforehand so he can get a full picture of the current situation.

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/gb_consumerletter.ehtml

Experian

https://secure.wiseconsumer.uk.experian.com/wiseconsumer/secure_index.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=register_display&tpl=regPurchase

gonnabedebtfree

thankyou for your reply.

we wll not be looking at any houses above £150k so thanks for telling me i will need 25% deposit, will try and get £35k as the inaws are going to help us and take it out of his inheritence.