Do you think I will be able to move?

PennyLessons

Hello - hopefully you will be able to help me. I currently have some financial problems, including three CCJ and a number of defaults on loans. This is due to my partner losing his job last year and money being very tight.

We are now slightly more sorted out and have repayment plans organised.

We would like to move house so that my journey to work is easier (i currently drive over 3 hours a day, which is to much and too expensive!) and would like to move into a cheaper house so we can use some of the equity in the house to pay all our outstanding debt. Once the debts are cleared we should have enough for a 20% deposit. Do you think we will be able to get a mortgage? and who would you recommend we spoke to? Currently we are with the Bank of Scotland.

Thanks so much for your help.

wardlaw

Hi There

I would most certainly go back to your current lender, as I assume you have a good payment record with them

Just be up front with them and tell them the amounts dates and reasons for all the credit problems which you have endured, on the face of it, not due to your fault It happens someTimes

Don't be to disspondent .There are numerous lenders who will be more than happy to consider you for a new mortgage ,especially if you are able to put down an initial deposit of around 20%

I would suggest that you do speak to a professional independent mortgage broker as he can gather all the suitable information, and based on same source a product that best suits your own particular needs and requirements

Best of LUCK

Mr_helpful

I dont think there's any doubt that someone will lend to you but I would be surprised if Bank of Jock will. You want to see a mortgage broker who understands adverse credit rather than one who just sends it off to a packager.

PennyLessons

Thanks for your help - yes my repayment history with them is mostly good - I have had a couple of little hick-ups but have always called them and sorting things out quickly.

PennyLessons

Mr_helpful wrote: »

I dont think there's any doubt that someone will lend to you but I would be surprised if Bank of Jock will. You want to see a mortgage broker who understands adverse credit rather than one who just sends it off to a packager.

Thanks for your help - sorry for the supid question - but what is the best way of finding a good mortgage broker who can help?