Mortgage / right to buy

showcase1975

I am looking to buy my flat..Right to buy...I qualify for the discount of £77,900.
The flat is valued at £210,000, however! The flat was valued by an estate agent at £235,00.
I checked my credit file and it stated: I had a CCJ for £220.00 from Nov 2011.
Also a late payment for a water company for £399.99 not a CCJ. (6 payments late).

I am looking for a mortgage of around 130,000 but obviously my credit rating is Very poor!
I can pay off the debt easily. It would be heartbreaking not to get a mortgage with that much Equity and discount!!
any advice would be lovely! Mortgage companies..advice or anything!
Thanks in advance!...

Nnenne1

Big oversight by you but then you know it. Contact a broker, they'll be able to sort you out.

csgohan4

It isn't equity, it is a tax payers discount. You never earned it and the big question are you ready for such a big commitment when small things like water bills causes problems for you???

ACG

From a lenders perspective, you have put no money in personally and so there is always a higher risk to the lender when the owner has no financial interest as such.

It should be possible to place and you may have a few more options if the water bill is satisfied but it can be done.