Chances of a mortgage

Flal12 · 9 May 2018 at 11:01AM

Hi

I am due to receive some inheritance which will give me enough for a deposit to buy a house however I have had a bit of bad luck with employment over the past 2 years and was let go from my job due to the company going bust so I have been doing temping of course this also led me into financial difficulty and I got behind on a lot of my bills which led to defaults and some of my debts being sold onto companies such as Lowell, I also had a pay day loan which is now paid. I am now fully employed fulltime but only recently and ontop of my bills again infact when I get the inheritance I intend to pay my debts off completely.

I have been looking on Martins money market and im now worrying I will not be able to get a mortgage due to my past credit rating, has anyone had any experience with this or can offer any advice I would be extremely grateful.

Thank you

Neutrinno · 9 May 2018 at 11:12AM

It's hard for us to say what your chances are without knowing more information on your credit history. When were the defaults and payday loans, how big were the defaults? What size deposit are you looking to put down? Get a copy of your up to date credit report (Noddle, Experian) and approach a broker who has experience in helping customers with previous credit issues and you will be able to get a better idea.