Shared ownership mortgage poor credit score

bettieblue

Hi,
Just wondering if anyone has any advice.
I got into credit card and loan debt a few years ago. I was managingto keep up with minimum payments until 2013 when I went onto a debt management plan with PayPal. I then became pregnant and now have a nearly 3 year old. I paid off my debt in full last October when I received some inheritance. I work as a nurse 16 hours a week ( 2 days). Me and my daughter are in private rented accommodation. I no longer get any help towards my rent due to having some money left over from the inheritance after paying the debt off.
I really wanted to use the money I have left as a deposit for a shared ownership property. I have £30,000 so a sizeable chunk of a deposit. My salary is £10,000 a year ( I also get working and child tax credits/child benefit/ and some maintenance from my little girls father).
I went via Which Mortgage telephone advisors and they have said that being as I have poor credit rating I will not get a mortgage ( I wanted to borrow between £ 40 -50,000). They said if I wanted a regular mortgage (and not a shared ownership mortgage ) then it would be OK but lenders that deal with shared ownership don't deal with people with poor credit ratings.
If I continue to pay full market rent until the defaults fall off my credit rating in 6 years then I'll have eaten into a big chunk of my current money set aside for a deposit.
I've tried to find rent to buy schemes but none in my area or in any areas I'd consider moving to.
Does anyone have any advice on anything I can do ?
Thanks

kingstreet

Find another broker.

If any defaults/court judgments were registered more than three years ago I can think of a regular SO lender off the top of my head and there should be other options with the amount of deposit you have.