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Buying a house with poor credit rating
Jon_Bake
Posts: 15 Forumite
My friend wants to buy a house, but his credit ratings aren’t that good. It was 580 the last time he checked and there are less for it to have improved. He has one collectors debt left which is is $700 which he plans to pay off before buying the house and he want to bring up my credit scores close to 700. He has been searching for house loan in between and the Prudent Financial Services agreed to give Him a good mortgage rate despite my poor credit. So should he get that start looking for a house or should he wait for my credit to improve?
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He has been searching for house loan in between and the Prudent Financial Services agreed to give Him a good mortgage rate despite my poor credit. So should he get that start looking for a house or should he wait for my credit to improve?
Who is buying this house, you or your friend?
What deposit do you/he have? Have you/he actually looked at a copy of your/his credit file to see exactly what is on there, late payments, defaults, CCJ's etc?
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