Right To Buy Mortgage Advice

dazmufc

Hi all,
I haven't a clue when it comes to mortgages etc so any advice would be much appreciated.
I have looked into buying my council house & with my discount it works out to £57,000. Now here's the problem i have defaults from a couple of years ago when i lost my job is this going to stop me from getting a mortgage.

regards

Daz

holly_hobby

Possibly depending upon the overall LTV (ie - what the house is worth compared to the 57k pch price), and the size of the defaults (obtaining them as a result of losing your job will be more positive, than you just over exposing yourself and merely not being able to afford them, to which I presume you are now working and have had no further debt issues since the episode discussed).

A whole of market broker will be the best starting point for you, they will be able to place the case with a lender based on the info provided (without you trying and being declined by various lenders, which will affect your credit score even further). Take a print out of your credit history to your appointment, the best place to obtain a copy is via check my file, as they not only give you a free trial, but are the most comprehensive as they provide a multi agency check (experian, equifax and callcredit).

Hope this helps .... good luck

Holly