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Mortgage Advice for Someone with Defaults
stokegal
Posts: 946 Forumite
Hi All
Hope someone can give me some advice please.
My partner and I both want to get onto the property ladder, but both off us don't have particularly good credit reports. I have defaults, the last one was October 2006 and my partner doesn't have any loans or credit cards, the only thing he has is an overdraft on his bank account, (which he use to go over almost every month)
We have been to a broker and have recieved a quote for a mortgage based on £80k, the repayments would be £580/month fixed for 3 years but this is based over 30 years. The broker however has told us that we need to pay him 2% (3% if we don't take out there payment protection insurance) before the mortgage goes through. With solictitors fee's and their broker's fee's (the mortgage company is offering free searches untill the end of April) we need to pay in excess of £2000. As we have no savings this is real problem. Does anyone know of any mortgage companies that I can go to directly to save me paying this brokers fee.
Any help would be appriciated.
Hope someone can give me some advice please.
My partner and I both want to get onto the property ladder, but both off us don't have particularly good credit reports. I have defaults, the last one was October 2006 and my partner doesn't have any loans or credit cards, the only thing he has is an overdraft on his bank account, (which he use to go over almost every month)
We have been to a broker and have recieved a quote for a mortgage based on £80k, the repayments would be £580/month fixed for 3 years but this is based over 30 years. The broker however has told us that we need to pay him 2% (3% if we don't take out there payment protection insurance) before the mortgage goes through. With solictitors fee's and their broker's fee's (the mortgage company is offering free searches untill the end of April) we need to pay in excess of £2000. As we have no savings this is real problem. Does anyone know of any mortgage companies that I can go to directly to save me paying this brokers fee.
Any help would be appriciated.
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