Outstanding credit, will we get a Right to Buy mortgage?

LancLass

Question for you helpful brokers on here!


Thinking about buying our council house, been a tenant for 10 years so looking at a 40% discount bringing purchase price to about £70,000.


We have household income of approx. £50000.


Outstanding loans/cards etc of about £20,000. One loan ends next year saving £250 p/m. A couple of late payments over 1 year ago , nothing since. Mortgage payment would be very similar to current rent so we think affordability shouldn't be a problem?


Before wasting the councils & mortgage company's time applying, do any of you experts/brokers think an mortgage application will be accepted?


Thanks

kingstreet

Speak to a broker who can analyse your circumstances and work out the right lenders and products for you and your individual case.