We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

help! will i get a mortgage????

Options
I work 16 hours per week and i am a single mother. I pay full rent and was thinking about buying my council house (down four in a block). I was bankrupt in 1999 and believe I am free of that now. Would I get a mortgage and what type should I go for? Its soooo confusing...any advice would be appreciated...thanks!

Comments

  • Hi there,

    I can't advise you specifically on the mortgage, but I too am a single mum of 3, work 21 hours a week & am also a f/t student. I had to go bankrupt along with ex-h back in 1996 and lost the flat I owned. I know things have changed now, but I had to wait 3 years to be discharged. I thought I would be doomed to have nothing & get nowhere for the rest of my life at that point.

    Since that time (& ex subsequently leaving) I have worked incredibly hard to rebuild credit, pay everything on time, build up some savings, etc which I think helps just a touch....

    However - I am going to sign the mortgage papers at my bank this afternoon to buy my council house!!!!!!! (eeeekkkk!!!!!)

    I changed bank last summer after I'd had enough of Abbey's incompetence (no problems with running my account, just their overall attitude & the fact they lost a lot of my personal information when I changed my name, etc) and I have found Lloyds to be fantastic. The staff at my branch are brilliant - and remember my name whenever I pop in (which isn't that often), and I like that sort of 'personal touch'. Went in for a review a couple of months ago & came out with mortgage agreed in principle. I feel that having a good relationship with your bank can certainly be a great help, but I know that equally there are some excellent mortgage brokers who would be able to advise you too.

    Good luck to you - and as my mum tells me, reach for the stars!
    Live your life until love is found, or love's gonna get you down" (credit to Mika!):p

  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    The Bankcruptcy should affect you now.

    Your income is the crucial factor.
    You mention your property is '4 down' but this doesnt tell us how many stories high the block is - is it 20 or 10?

    Few lenders will assist on high rise blocks espcially if there is galleried access or concrete construction.

    Beware the sharks. They tend to target the most vulnerable people particularly Right To Buy cases. Watch out for insurance stings - better to do your own direct with a large insurer such as N Union. Dont let the 'advisor' fill in the form - he might forget to write down the illness you had as a baby so that when you claim it will be invalid.

    Dont !!! any insurance to the mortgage balance - another common fraud.

    Halifax might consider RTB on a tower block. Barclays lend on T blocks but Im not sure they do RTB.

    Victoria and Preferred (lenders not brokers) can consider such cases as far as I know.

    Please trust no one and you will never lose.
  • lyndata
    lyndata Posts: 109 Forumite
    thanks. its not a tower block.Its 4in a block ie 2 downstairs and upstairs with own garden. theres just so much info that dont know where to go for help
  • morgani
    morgani Posts: 228 Forumite
    lyndata wrote: »
    thanks. its not a tower block.Its 4in a block ie 2 downstairs and upstairs with own garden. theres just so much info that dont know where to go for help

    You could try this company I have recently been dealing with hes great help and you deal directly with the owner of the company and they are a broker and from comparing prices are competetive too.

    the company is stein financial

    The guys name is Russ Stein and you can tell him you were referred from me if you like, Ian Morgan from Gloucester.

    Website https://www.stein.co.uk
    Email mail@stein.co.uk
    Tel 01793 491888

    Hes happy to leave you to think about things and doesn't pressurise you and was generally helpful and was prepared to spend tme to explain things he even stayed on til 8pm one evening to help me out with life assurance.

    Hope this helps ;)
    Running challenge 2014 = 689k / 800k
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.