Planning for the future

SpeedyBoots

Hello folks,

In the future (a few years off but you have to think about these things) I would ofcourse like to obtain a Mortgage, highly likely with my partner. Now in terms of my credit rating, it is not good (on the Experian scale it is marked down as poor) and I have a few defaults on my file (most of which are paid off and cleared etc.

Now, I know a mortgage, house, babies etc is a long way off but I worry if I don't start planning and sorting things now, it will come to a time when I need financial assistance and It will not be available.

Sorry, it may seem a bit of a vague thread, just after some advice and pointers from you folks.

Do people with bad credit get Mortgages?
Is there a set amount for deposits? 10/20/30%?

Thanks everyone.

amnblog

People who have proven they pay their bills get mortgages with the least difficulty.

If you are not one of those, you should focus on becoming one over the next few years.

Dave_the_Ginger_Cat

Also people who pay their bills better get better rates and are likely to get a higher LTV.

Thrugelmir

Start by clearing your remaining debts. Then learning to manage your money better. Try saving before spending for example. You'll appreciate what you buy far more, and your money will go far further. If you are not paying interest but instead earning it.

SpeedyBoots

Thanks for the advice everyone.