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Experiences bad credit mortgage and HTB
Thisisouryear
Posts: 12 Forumite
Hi would anyone be willing to share there bad credit HTB experience with me? I know I need to see a broker I would really appreciate hearing others experiences too? Good or bad
I’m looking at using Aldermore
I’m looking at using Aldermore
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Comments
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Thisisouryear wrote: »I’m looking at using Aldermore
Based on what?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
I have a DMP 6 years ish old with around 7000 remaining. 92pm
Both husband and I have a car each 150
Husband has loan 300 per month 3 years remaining
No remaining defaults.
Joint income 49000
Regular monthly overtime 600
Looking at HTB will have 10000 by Christmas
Now have no cc or overdraft0 -
Very much doubt you will get a mortgage while on a DMP let alone HTB.
Also not sure how you can safe £10K while on a DMP - surely you would pay that off before going for a mortgage.
Report back though if you get anything positive.0 -
I’m really just hoping to hear others experiences. I know i need to speak to a professional about my own circumstances.0
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As previously advised on your other thread - pay your financial liabilities and then apply for a mortgage. I assume you've chosen Aldermore based on your current credit state? Get your debts sorted, be patient and then have the option of going to other (better) lenders when the time is right.0
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Thisisouryear wrote: »I have a DMP 6 years ish old with around 7000 remaining. 92pm
Doesn't appear to be any urgency to repay. Assume the loan and cars came after the DMP. Not going to instil confidence in your application. When before the underwriters. Lenders are beginning to tighten down. When entering a beauty competition one needs to look ones best. As there's plenty of other contestants to select from.0 -
So you have £10k available and £7k in debt.
Why not pay the debt off, and have £3k left and build your savings for an actual deposit?0 -
stevenhp1987 wrote: »So you have £10k available and £7k in debt.
Why not pay the debt off, and have £3k left and build your savings for an actual deposit?
:eek: What pay money you owe with money you have in the bank..good god man thats a bit extreme isnt it,just imagine if we all done that...:eek:;)0
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