Brand new to mortages

Bert1812

Hi Guys and girls,

I have been renting for over 20+ years. Renting is part of my culture, but now I am in a not so great situation and I can do with some advice.
My current flat is up for sale, £80000. I am renting this for £575 a month. I am 45 years old, went to University late, as most students do I made a mess of my finances. I did owe MCS(HSBC) £20000, but I have brought this down to less than £3000 at the moment.
I get turned down for any loans I like to take out, £4000 deposit for the flat I think should be enough to mortgage, cant get that.
Over the year, my outgoings equal my income, so no savings. I do some things on the side to boost my standard income of £32500. I have a steady job as a teacher.
I have no CJCs or IVAs. I do owe a bit on credit cards, but within my spending.
I have no experience at all in this field, I am open for suggestions. And Martin I just tweeted you, if you have the time to reply please do.

Thank you all.

Thrugelmir

You'll need to address your debts first. Once cleared you'll be able to start saving.

How quickly you are able to achieve this depends on the effort you put into it. As there's no easy answers.