Horrible credit, 40% deposit low wage.. Best way to get a mortgage?

Chai_2

Hi,

My credit rating is worse than i can be and however its all very manageable and will only have 1k left by Christmas.

I have 2 ccj's which will be cleared soon and after this id like to look at getting a mortgage. The problem is im self employed and maybe do 9k a year. Im ok to make a 40% deposit on a 110k property as i have a big project coming soon..... I'd only get the mortgage once my income from my SE work doubled

My dilema is where i can get a mortgage with my bad credit , low salary (for now) and save for a higher deposit as a self employer person or get a ft job so i can get the mortgage?

I know this seems like a no brainer however the self employed work i do is so hard to get into and if i leave its not at all easy to get back in and its my ideal work. (FYI the debts were ed a old biz related not crazy spending.)

Really appreciate any advice

Thanks

Thrugelmir

Until you've resolved your debt issues and established your business, i.e. can demonstrate a secure level of income over a number of years. Then obtaining a mortgage is highly unlikely.