95% Mortgage - Adverse Credit

BMW1981

Hi,

I posted yesterday regarding a property i am looking to purchase with my wife. As we were looking to buy the property under the help to buy scheme the developer said they could not reduce the price of the house therfore we would need to pay 3% stamp duty which we just cant afford.

We have seen a property (not a new buld) which we like and its under the £250,000 price tag and therfore just the 1% stamp duty.

We have a 5% deposit and a combined income of around £80,000 includng bonuses.

Are there any 95% adverse credit mortgages available or am i best sticking with help to buy?

GMS

What is the adverse? You may find you have no options.

BMW1981

Couple of missed payments on a personal loan 12 months ago, the loan has now been paid off.

Also couple of late credit card payments 18 months ago - again now all paid off.

I thought that it may well be a no go.

Do you think i would be better trying via the help to buy scheme?

Building_Surveyor

if your putting down a 5% deposit regardless of the scheme you may find this a struggle with any adverse.