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Adverse Credit History, large deposit
stevef100
Posts: 2 Newbie
Hi All,
I had a loan and overdraft that went into default in 2010. Went onto a repayment plan and fully settled March 2014 (9k). I currently own outright a property worth 160k which would be used as a deposit. I would be looking for a mortgage of around the same therefore a 50% LTV although I could go for a cheaper property. I currently earn 63k, my partner not currently working (expecting). I can wait to start applying (have just started to rebuild my history with a cc and paying balance in full each month) but was wondering if an advisor could give me a 1000 ft view on what my chances are. I hope the LTV rate would give me hope as the risk should be seen as lower.
Thanks in advance
I had a loan and overdraft that went into default in 2010. Went onto a repayment plan and fully settled March 2014 (9k). I currently own outright a property worth 160k which would be used as a deposit. I would be looking for a mortgage of around the same therefore a 50% LTV although I could go for a cheaper property. I currently earn 63k, my partner not currently working (expecting). I can wait to start applying (have just started to rebuild my history with a cc and paying balance in full each month) but was wondering if an advisor could give me a 1000 ft view on what my chances are. I hope the LTV rate would give me hope as the risk should be seen as lower.
Thanks in advance
0
Comments
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What form of repayment plan. DMP?0
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It was a plan arranged with a debt collection agency. Got into financial trouble missed a few payments so it went to a collection agency who I paid regularly and then paid the full balance when I was able.0
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On the face of it, there should be a solution for you.
Subject to the absolute detail, it should not be far off high street rates.
The better the broker you engage (and likely to need one) the smoother the process and better the product you achieve
Best of luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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