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Large Deposit, Bad Credit
Cookiefeeder
Posts: 2 Newbie
We are looking to purchase a house in a new area. The properties are around £80,000. We have a deposit of £50,000, but I have a CCJ on my account, (Stupidly messed up with Council Tax Payments during a previous property move, I wasn't aware until it was too late) so have a bad credit score.
Are there any decent companies that would give me a mortgage for around £25-30k?
I'm paying £800pm rent at the moment, so a mortgage at a higher rate should still be cheaper.
Would I be better off just trying to get a large loan?
Thanks
Are there any decent companies that would give me a mortgage for around £25-30k?
I'm paying £800pm rent at the moment, so a mortgage at a higher rate should still be cheaper.
Would I be better off just trying to get a large loan?
Thanks
0
Comments
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The key will be in the details of the CCJ. E.g. How old? Settled?0
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There will be lenders out there for you, but the devil is in the detail as per above.
When was the default registered?
Has it been satisfied? IF so, when?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 -
Hi,
It was satisfied about a year ago.0 -
Worse case scenario, I reckon a rate of around 2.5%, but I think there could be a couple of high street lenders who would consider you.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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