Right to Buy

Pineapple88

Austinbostin wrote: »

Hi

I feel like I am being penalised even thought I have paid all my debts off completely I'm now going to have to live with this for the foreseeable future

Well done for paying off your debt! :beer: Although you may feel that you are being penalised, try and see it from the lender's point of view. They are taking a risk lending you money over such a long period of time and so they want to know that it is a good risk to take. They want to know that you are able to be financially responsible and meet your obligations over the long term, at the moment your credit score does not show this. As other have said, talk to some brokers, but if this fails then focus on rebuilding your credit rating.

Austinbostin

kingstreet wrote: »

Order the other two so you can see the full picture, then put them in front of an experienced whole market mortgage broker. Your use of the word "financial adviser" puts me in mind of someone who is a direct salesman for a life office, the old Dunbar-type rep. You need a proper whole market mortgage broker for this, not a part-timer who normally flogs life cover for his day-job. Especially, no estate agency advisers who work for a national chain with a limited panel.

Thank you, I appreciate you taking the time to reply. I will take your advice and do what you have suggested
Kind Regards

Austinbostin

Pineapple88 wrote: »

Well done for paying off your debt! :beer: Although you may feel that you are being penalised, try and see it from the lender's point of view. They are taking a risk lending you money over such a long period of time and so they want to know that it is a good risk to take. They want to know that you are able to be financially responsible and meet your obligations over the long term, at the moment your credit score does not show this. As other have said, talk to some brokers, but if this fails then focus on rebuilding your credit rating.

HI
thanks for your reply and yes I can see it from the point of the lender. I know it is not looking good I just wish that they would look at it from my point of view I have been paying more than what the mortgage monthly repayments would be out for the last 6 years (the debt & my rent were more the the mortgage would be)

thanks for the advice if I can not get a mortgage like you say I need to focus on rebuilding my credit score