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Getting a new mortgage with bad credit
mumstheword3
Posts: 2 Newbie
My husband and I sold our 2bed flat and his deceased mother's house which we rented out for3years. My husband had missed payment on the last three months before the property was finally sold and I had defaults on some catalogue payments. We tried to get a mortgage after we had succeeded in finding the perfect home for our two young boys and the little princess growing in my tommy.
Unfortunately, we were not successful and so had to rent, even though we have up to £80,000 deposit.
Can anyone help us with information on how to get a mortgage with bad credit. Thanks
Unfortunately, we were not successful and so had to rent, even though we have up to £80,000 deposit.
Can anyone help us with information on how to get a mortgage with bad credit. Thanks
0
Comments
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Whats the purchase price,
When were the defaults registered?
Have they now been satisfied?
How much are your incomes?I am a Mortgage AdviserYou 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.0 -
The mortgage was £275,000 my husband's defaults are as recent as October 2012 when the property was sold. But his have been satisfied now. We have a collective annual income of just about £50,000.0
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That default is pretty recent. There should be options open to you, but i would suggest you take your credit report to a mortgage advisor as this will not be the easiest to place.I am a Mortgage AdviserYou 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.0
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