Broker Advise needed - Any Chance at the moment

stayz

Ill try to keep this simple.... My husband works - salary 20,000 p/a We have a 2 yr old so i am not working at the moment but i get child tax credit £3,081 p/a and we get £572 p/a working tax credit and the standard £82.00 every 4 weeks child benefit. We have no other outgoings. We have a credit card which we pay the full balance on each time as a bit of a credit building tool and a mobile contract but nothing else. We are living a bit hand to mouth though as im not going back to work for a year or so but we pay £675 in rent each month.

Major problem is husband has discovered CCJ £1, 100 (registered Nov 2009) turns 6 yrs this Nov but we returned to the country 2 yrs ago and looked at our credit reports. I have a £1600 default which i have been disputing since Feb and getting nowhere as they have been unable to provide any information on it and it continues........

I have seen a house for £140000 we have a £45000 gifted deposit and i just wondered if we paid the CCJ and settled it, do we stand a chance or do we need to continue to wait?

I really dont want to try applying if its a big chance no one will be able to help us

Opinions from brokers on here much appreciated!!!

libf

If you need the advice of a broker then best find one and pay for their services...

You need to sort out the credit issues before thinking of applying for a mortgage, especially with a deposit which is gifted. After taking fees from the gift you're looking at needing to borrow £100k, which would seem unlikely on your husbands salary. Draw up a budget and try to start saving.

ACG

There will be lenders for this, but its not for every lender.
Its a little hit and miss as to whether high street lenders will look at it, but I think you need a good experienced broker to have any chance of overcoming the adverse.

The affordability is on the tight side though.

I think you need to sit down with a broker sooner rather than later to see what is achievable.