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Single FTB poor credit rating
Kayleigh1986
Posts: 57 Forumite
Hi
I just wondered if someone could give me some advice. I've always rented but I'm in a different position now financially and am saving towards a deposit. I just wondered, my credit rating is poor, it was fair but I applied for a credit card to build my rating, I was accepted and I'm now using it to pay for my petrol and then pay it straight off when the bill comes in. My credit rating is improving because of this.
I have only 1 defaulted account showing on my credit file, no CCJ's. I'm a single mum and I work and have my own business. Current income is around £20,000. What sort of deposit would I be looking at? I would be looking at properties around the £80-90,000 mark.
Any advice welcomed
I just wondered if someone could give me some advice. I've always rented but I'm in a different position now financially and am saving towards a deposit. I just wondered, my credit rating is poor, it was fair but I applied for a credit card to build my rating, I was accepted and I'm now using it to pay for my petrol and then pay it straight off when the bill comes in. My credit rating is improving because of this.
I have only 1 defaulted account showing on my credit file, no CCJ's. I'm a single mum and I work and have my own business. Current income is around £20,000. What sort of deposit would I be looking at? I would be looking at properties around the £80-90,000 mark.
Any advice welcomed
0
Comments
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When is your defaulted dated?
Has it been satisfied?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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 -
The default is showing as 26 months ago and its coming up every month because its not been satisfied. I have contacted the company to make arrangements to start paying some of the debt off but am being passed around the houses with different departments I need to speak to.
Also I have been led to believe that other incomes such as tax credits count towards income? Is that correct? If so then my yearly income is close to £24,000
Thank you0 -
You are probably looking at a 15% deposit.
Some lenders will accept tax credits, others will not.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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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