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Mortgage exceptance likeliness???
Marleykelly
Posts: 1 Newbie
Anyone have any experience of getting a mortgage with bad credit and a debt agreement plan (catalogue)?? No missed payments, just high lending up to credit limit. Debt of 14,000.
Or any lenders take into account All debt being paid off after the sale of the current house???
After all debt paid off we still have a deposit of £60,000.
Combined yearly income of 61,000.
Sadly all money is tied up in the current home and if paid off at current rate would take 3-4 years to clear. I want to move asap! Anything else i havent considered??
Or any lenders take into account All debt being paid off after the sale of the current house???
After all debt paid off we still have a deposit of £60,000.
Combined yearly income of 61,000.
Sadly all money is tied up in the current home and if paid off at current rate would take 3-4 years to clear. I want to move asap! Anything else i havent considered??
0
Comments
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Marleykelly wrote: »Sadly all money is tied up in the current home and if paid off at current rate would take 3-4 years to clear.
Find savings in your budget to clear the debt quicker. You've a reasonable household income.I want to move asap!
That's the root of many peoples financial problems. Money is so easy to spend. Repayment not so palatable.0 -
Get your credit reportS infront of an experienced broker.
You have not provided enough information to give likeliness of being accepted or the expected rates but theoretically, yes it can be done.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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