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Help and advice on house buying
bonnand
Posts: 39 Forumite
Hi,
We have been renting for the last 5 years, have a good rental history. I have a poor credit history which I am trying to solve and I have a secure and full time job.
We are looking to move and would prefer to buy house as our kids have now left for uni etc and only return periodically.
I have seen the help to buy schemes but because of the poor credit and financial problems I have, I have been unable to build a deposit (although I do have my rental deposit in the TDS).
Just after some advice as to which way we could proceed. We currently pay £675 pm rent, and have no missed payments over the last 5 years with two different landlords. One of my concerns is the fact of my age and within the next 20 years, retirement.
I have seen in the past advertisements offering to tenants the chance to buy a property without a mortgage based on the rental payment. Do these schemes actually exist or could someone suggest a plan for us to build towards?
Many thanks for reading and I look forward to your replies.
We have been renting for the last 5 years, have a good rental history. I have a poor credit history which I am trying to solve and I have a secure and full time job.
We are looking to move and would prefer to buy house as our kids have now left for uni etc and only return periodically.
I have seen the help to buy schemes but because of the poor credit and financial problems I have, I have been unable to build a deposit (although I do have my rental deposit in the TDS).
Just after some advice as to which way we could proceed. We currently pay £675 pm rent, and have no missed payments over the last 5 years with two different landlords. One of my concerns is the fact of my age and within the next 20 years, retirement.
I have seen in the past advertisements offering to tenants the chance to buy a property without a mortgage based on the rental payment. Do these schemes actually exist or could someone suggest a plan for us to build towards?
Many thanks for reading and I look forward to your replies.
0
Comments
-
google 'shared ownership'.
Personally I am sceptical about these scheme but that is a personal view - for some people they may be appropriate.
The alternative is simply to
* re-build your credit record
* start saving a deposit
What price property would you be looking at locally?
What deposit would you need?
What mortgage would you need?
What is your income?0
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