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Can we buy after a repossession and a CCJ?
mummacake
Posts: 2 Newbie
Hello.
This is the first time I've posted on a forum.
We currently rent and are paying £1200 a month which to me is dead money.
My partner handed his keys back to his house just over 3 years ago after splitting up with his previous partner. At the time we had only just met and we wasn't in a position to pay off mortgage arrears. His house was sold and he got quite a large sum back. I separated from my husband 8 years ago and I still have some debt (totals around a £1000 which I'm currently paying off) one of which is a CCJ for an address I haven't lived at for over 2 years.
My mum has just sold her house and has offered to help us as she wants to see us with some security as we have had a landlord throw us out (I have 4 kids) through no fault of our own and now we have a landlord who seems ok but his partner does not like us and our tenancy does not state that he lives on the same property. We all feel a bit a sea to be honest and we would love to buy so our children are more secure.
My question is, do we stand a chance? my mum has said she will buy a buy-to-let and we can live init until we can get in a position to buy but if this can't be done can we do it on our own using a deposit that she will give us?
Does anyone have any advice? I am so confused.
This is the first time I've posted on a forum.
We currently rent and are paying £1200 a month which to me is dead money.
My partner handed his keys back to his house just over 3 years ago after splitting up with his previous partner. At the time we had only just met and we wasn't in a position to pay off mortgage arrears. His house was sold and he got quite a large sum back. I separated from my husband 8 years ago and I still have some debt (totals around a £1000 which I'm currently paying off) one of which is a CCJ for an address I haven't lived at for over 2 years.
My mum has just sold her house and has offered to help us as she wants to see us with some security as we have had a landlord throw us out (I have 4 kids) through no fault of our own and now we have a landlord who seems ok but his partner does not like us and our tenancy does not state that he lives on the same property. We all feel a bit a sea to be honest and we would love to buy so our children are more secure.
My question is, do we stand a chance? my mum has said she will buy a buy-to-let and we can live init until we can get in a position to buy but if this can't be done can we do it on our own using a deposit that she will give us?
Does anyone have any advice? I am so confused.
0
Comments
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It will come down to the details, how much is the deposit going to be?
If you are looking at 10% then I dont think you have any chance for some time yet - but I would suggest getting all 3 credit reports and sitting down with a broker. At 15% there are lenders who will look at the whole picture, Im not sure they would accept it but they may.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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