in an ideal world....adverse credit

Jambo5

Well that's a bit of a relief!

Tell me, again this is hypothetical....
My CR (not great)+ Wife's (exceptional)= success?
Will hers balance the application out?
Or is my logic wrong?
Thanks for your help.

ViolaLass

Jambo5 wrote: »

It would be great if she could come on to mortgage with be as her CR is gleaming. But just not sure how it works, and with respect your husband was still earning. Any help on this please.

Thanks for the advice on brokers guys. I will be looking hard.

This recent broker has knocked stuffing out of me.

We declared his income to be zero, because then we didn't have to prove anything (he didn't have many years trading, hadn't done that year's tax return yet and so on). It was just easier that way.

Jambo5

Ok that is great. Hopefully we can get her on mortgage and it can help my CR out. And hopefully we will get there one day!

Thanks

Jambo5

ACG...you said your not sure if you would consider my situation as adverse? Do you think I could get High street % rates with even a 5% deposit??

Reason I ask is I have just been through my old threads and seen that your credit has to be very good to achieve that, and I'm only saying that as the only 5% mortgages I know of are all HTB schemes?. We are looking at a house and something I can do up.

I also ask this in an other tread....but how much on average will I need on top of deposit...i.e for Broker, fees, survey etc? A couple of grand?? I know we are looking at something betwwenn 100 and 110k. So stamp duty wont apply.

Thanks again

ACG

There is potential.
HTB you are only allowed to own 1 property, im not sure when you say your looking at a 2nd property as in its the second property your looking at or it will be the 2nd you own.

£2-3k should cover it all.

Jambo5

Cheers ACG. Its out first property. I live in married quarters at moment and we are able to save quite well.

I just wondered weather a 5% deposit would be enough with PDLs and late payments that are 3 and 5 years ago. We plan for a 10% plus the 2 or 3 grand now for fee's etc.