Stay in rented or buy???

methekidsandthecat

Hi Everyone

I am just looking for some general advise.....

I have recently sold my house and got sufficent money to pay off my considerable unsecured debt and leave a small deposit of around 15K. I have not been off the 'housing ladder' since the 1980's and it is worrying me.

However I know now that my credit score will be rubbish despite trying to do everything in the right way and use CCCS when things got very difficult. I have never defaulted on my mortgage payments only the unsecured debt. I am not sure if I will be able to get a mortage.... I was hoping that I would get one even if it is at a higher interest rate initally and then remortgage in a few years to a better deal.

I have found a property that needs loads of work but is just under 100k and thus affordable....
Can anyone give any opinions or advise please?
Me

herbiesjp

Have you got an up to date copy of your credit file?

Does it say anything on there?

Assuming your income can support the mortgage amount you are looking at, you will be able to find a lender to help.

Which lender and what rate will be dictated largely by what is on your credit file, but you should be able to get some kind of mortgage

HTH

methekidsandthecat

I have been trying to get copies of my credit reference files today but seem unable to get the sites to reply when I have entered details on the forms....
not sure what is going on there?
Me