Desperate Housewife!!

Satchell's

I will try to outline my problem as breifly as possible!

We've had a fair bit of trouble where we are living recently, and the last straw came when to young lads headbutted my husband, broke his nose and kicked him around on the floor just outside our house - we are DESPERATE to move!!

Hubby earns around £25,600, I am "self employed" but have no accounts, no accountant and have not registered. I have been working as a nail technician for almost 3 years, along side my part time job. I left paid employment in October last year to do "nails" full time. The majority of what I earn goes back into my business, and I come away with about £6k.

After costs and fees we have about £20k equity to put down on another house - the one we've seen is £140,000 - what is our best option mortgage wise?? We did have some credit problems too in the past, but have been cleared for 12 months now - no mortgage arrears though for about 3 years. We are with GMAC at present and paying £695 per month on a £95k interest only mortgage - our rate is 8.75% :eek: - shocking I know but we had no choice at the time...

ANY help is MUCH appreciated!!!

Munki_2

Firstly, get a big dog. A f**k off big one. And preferably with a really bad attitude. That should stop anyone attacking your other half again. I think that's bloody awful what you've described happened to him.

Secondly, and more relevent... ;-)... If you've seen a house you really like then you need to get the ball rolling ASAP. Enlist a local independant financial advisor and discuss your situation with them. They should be able to explain your options. However noone but the credit scoring companies are able to say what sort of mortgage you will be able to get, but the FA should be able to point you towards the lenders who are more likely to lend. If you're not in arrears, have no CCJ's and haven't missed a payment for as long as you've said, then I'm sure you will be able to get a reasonable mortgage offer. Certainly better than 8.75% :-/

I'm sure people on this board can give you some proper advice, but given your phyisical security issues and possibility of a house available right now... I think you need to get firmer advice from a FA sooner rather than later.

Good luck and I hope everything gets easier soon.

Munki.

herbiesjp

You should be able to find a lender to help - but all depends on your circumstances. Have a word with a good mortgage broker/adviser.