Getting a joint mortgage with poor credit

petermortgages

Hi, looking to buy a house in the next 6-12 months.

my credit limit is poor and my partners is fine.

does anyone know specialist mortgage advisers that deal with such issues or does anyone have any advice for me.

we will have saved 20K by the time we are buying and the house will probably be in the 200-225K bracket.

thanks

Pete

ACG

Have you had a look on google? You will probably find the brokers you want/need have websites geared towards that part of the market so rank higher?

With a 10% deposit, you will find your options are limited as most of the adverse lenders need a 15% deposit.

If you can post some details about the adverse you have (ie defaults/CCJs, date of registration, what they were for - credit cards, loans etc). I or one of the brokers on here can give you an idea of whether you stand a chance at 10% or will need a bigger deposit?

petermortgages

Hi ACG,

i have no CCJs. i had trouble 5 years ago with o2 and the bills, so i didnt pay them for 5 months, this was subsequently sorted and the account was paid off in full. i have a loan with Likely Loans (which i would never have taken out if i knew what it did to my credit score (lost about 80 points) i always pay all my bills on time so missed payments isnt an issue. i just worry that my score will stop us getting a mortgage.

foxy-stoat

petermortgages wrote: »

my credit limit is poor and my partners is fine.

Wow, what IS your credit limit and where did you go to find out?

Also, you dont have a credit score.

petermortgages

Hi Foxy-stoat,

i meant i had a poor credit score, not limit.

ACG

That adverse is quite minor then.
Do not worry about the score too much, it is not a real score as such. You are probably right to find a broker, but on the face of it, normal rates could be an option.