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Bad credit mortgage to buy council house ?
Jack_UK2
Posts: 16 Forumite
Do they exist ?
I live in N. ireland in a housing executive house which I am entitled to full discount, which is £24000. Currently our rent is £380pm and we have just applied to buy the house. We are still waiting to get the final offer from the NIHE, but the valuer who they sent out said although he couldnt give us a figure there and then he reakoned it would be somewhere in the region of £70-80,000
with full discount this should make the price for us to buy £46-56,000 ..
My credit file though is a bit iffy.. has been for a few years due to being self employed and a lack of work during the economic downturn. I have no court judgements and have never been bankrupt but do have late payments and about 4 defaults.. all of which equal less than £3K in total
Is there any companies out that could help?
Speaking to a friend they reakon I should be able to get a nil deposit mortage as already there will be £24000 equity in the house,.. if this is the case would it still apply to those with a bad credit file ?
Thanks in advance for any info
I live in N. ireland in a housing executive house which I am entitled to full discount, which is £24000. Currently our rent is £380pm and we have just applied to buy the house. We are still waiting to get the final offer from the NIHE, but the valuer who they sent out said although he couldnt give us a figure there and then he reakoned it would be somewhere in the region of £70-80,000
with full discount this should make the price for us to buy £46-56,000 ..
My credit file though is a bit iffy.. has been for a few years due to being self employed and a lack of work during the economic downturn. I have no court judgements and have never been bankrupt but do have late payments and about 4 defaults.. all of which equal less than £3K in total
Is there any companies out that could help?
Speaking to a friend they reakon I should be able to get a nil deposit mortage as already there will be £24000 equity in the house,.. if this is the case would it still apply to those with a bad credit file ?
Thanks in advance for any info
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