mortgage advice please

susieh_2

Hello,

I was wondering if anybody out there can help? A bit of background might help.

My oh & I went B/R in June 2004 & discharged in Dec 2004 & have been living in rented accom since & paying £550 pcm. (our house wasn't repossesed, we had sold it 5 yrs before as our job at the time provided accom).

We are now both working & earn approx £40k and have a cash deposit available of approx £30 - £40k. We realise it will be difficult to get a mortgage but can anybody suggest any banks/building societies that may consider or any other financial institues (that won't sting us). We feel we may as well be paying a mort as opposed to rent & have nothing to show for it.

Any help/advice greatly received.

Cheers

herbiesjp

This will depend greatly on the figures youa re looking at, the state of your credit file, and whether you have other current financial commitments. SOme lenders may consider high street deals for you, as long as there is a decent explanation behind the bankruptcy, otherwise there may well be sub-prime offers available.

In the current climate of tightening mortgage criteria, I would suggest having a word with a fee free whole of market adviser, as lenders are chaging rates and criteria on a daily basis it seems, which means that whilst today you could get a mortgage, tomorrow you may not.

A lot of threads on the board recently about mortgages that were going through fine prior to the rumblings in the US and the NR affair, are now having problems due to lenders chaging their criteria and requesting extra information or imposing new conditions