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mortgage with low credit
cefn_boy
Posts: 3 Newbie
Hi I have found a house that I would like to buy for £39000 but I only have a 5% deposit and a low credit score.I was wondering If anyone knows of any deals that may be available? Thanks
0
Comments
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Very unlikely to be accepted.
Many lenders have a minimum property value higher than that, Halifax is £40k, for example.
In addition, lenders offering 95% are looking for the squeaky clean, top-credit scoring borrowers.
There are many, many more applicants for 95%, than there are funds to satisfy them, so the majority are declined.
Do you have a history of adverse credit issues, or simply don't have any current credit?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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