Bankrupt

EmPem_2

I brought a house in 2008 with my (now ex) partner and long story short the house ended up being repossessed with 2 loans against the property (he forged my signature!) and a credit card. There was a shortfall of £21,000 from the house and other stuff added to nearly £50,000. I would have been happy to pay my credit card but was given advice not to and put it in to the bankruptcy order! anyway I declared bankruptcy in January 2010 and discharged in October 2010. I have since been renting properties always paying my rent on time and my bills etc.... I was also still allowed to keep my mobile phone contract with 02. Anyway my current landlord is looking at selling the property I am living in and I am wondering if / when I will be able to obtain a mortgage. I am not being greedy I am only looking for a 1 bed quarter house at £80,000 (asking price) but I just don't know where to start or even if I can start! Any help would be appreciated! I have the bankruptcy order and obviously mortgage defaults! I don't think there are any other defaults apart from the loans which shouldn't be connected to me but probably are! I just want to feel safe in my home and not have it taken off me or rent increased annually so I am unable to pay the rent! Thanks

ACG

How much deposit do you have?

Also what do you mean by a 1 bed quarter house?

EmPem_2

In all honesty I don't have any deposit at the moment but may be able to "borrow" or be "gifted" from family / friends. Lets say £10,000.OR is there anyway I can get a 100% or 95% mortgage. It's a small one bedroom house, lounge and kitchen downstairs, bathroom and bedroom upstairs. like a semi detached house split into two basically.

EmPem_2

GROUND FLOOR

• .
  
  Front door to
• Entrance Lobby
  
  Inner door to
• Lounge 4.32m x 4.57m (max narrowing to 2.62m)
  
  Double glazed window to front elevation, radiator, laminate floor, spiral staircase to first floor and door to
• Kitchen 1.98m x 1.75m
  
  Double glazed window to the side elevation, single drainer sink unit, wall base and drawer units with work surfaces over, tiled splash backs and tiled floor.
• FIRST FLOOR
  
  
• Landing
  
  Doors to
• Bedroom 4.14m x 2.46m
  
  Double glazed window to front elevation, radiator, built in wardrobes, storage cupboard and loft access.
• Bathroom
  
  Double glazed window to side elevation, radiator, wash hand basin, low level WC, bath with shower attachment and part wall tiling.
• OUTSIDE
  
  Rear garden laid to lawn and designated parking bay in car park adjacent to the property.

ACG

I would stop now.
Your going to need a good 25% deposit to have any real chance, there may be the odd exception at 15% but they would want to see you have saved up some deposit and not been gifted it.

Effectively you are looking to show you have turned a corner, it was a 1 off event and you have paid rent, saved a deposit (or at least part of) and are a good risk.

Being given a deposit means effectively you have no vested interest in the property as you have put nothing into it - so there is nothing stopping you walking away again.... in the eyes of some lenders.

EmPem_2

I can save up a deposit but paying rent, bills etc its not going to happen anytime soon. I am currently working 2 jobs looking for a third. I have always been brilliant with money - unfortunately the ex really did scr*w me up! I always always pay my bills and never would have credit - if i can't afford it I don't have it! I know I can't be childish and say it was all his fault but it truly was! I just feel lost and like I am relying on others all the time. Just want my own little place that I don't need to worry about.

EmPem_2

PS.... I don't have a car, I don't have the internet the only bills I have are rent, electricity, gas, mobile phone, council tax, water, TV licence all the things I have to pay basically. I know my mobile isn't an essential but I do not have a landline

ACG

Can you not move in with parents or house share with someone for 12 months?

EmPem_2

House share is a no-no as can not trust anyone financially again after the dreaded ex. Moving in with parents is a bit difficult. Dad - lives out of the area I live and I wouldn't be able to get to work and back daily and my mum lives with my step dad which may be ok for 6 months or so but not long term. Also wouldn't have anywhere to put / store mu furniture. I have brought washing machine, fridge freezer, sofa's etc and would hate to have to give them up to start again.

ACG

Storage isnt that expensive.

Im out of ideas but where there is a will...

EmPem_2

Sorry I am a bit stubborn too.... want to keep my belongings because they are mine and lost a lot of stuff in the break up! Just seems so unfair.