Dreaming of owning my own home.. advice needed please

Ja2017

Positive advice please...

I have always dreamed/ longed of owning my own home.

I have debts to the amount of around £15000! I have defaults and CCJs (CCJs I'm trying to appeal at the moment)

I'm trying to repay it all.
Is there any way of me being able to buy a house in the next few years?? Or will it always be a dream??

ACG

The debts will just form part of your affordability - without knowing your income and actual expenditure on those loans, it is difficult to say how much of an issue that amount of debt will be.

With deregards to the Defaults/CCJs, that will form part of your credit profile. Without knowing when they were registered (I am assuming they are not satisfied) and how much for and what for, then again, it is difficult to say.

I would say if you can manage to save a 15% deposit then the defaults/CCJs can probably be overcome. Possibly a smaller deposit but it depends on the details.

I would suggest speaking to a broker, a 5-10 minute initial chat will help point you in the right direction.

csgohan4

you need to have better credit history and habits, hit that debt because owning a house will saddle you with the largest debt of your life.


The debt free wannabee forums are a good place to look

enthusiasticsaver

Whether you can afford to buy depends on your salary, how much of a deposit you have, your credit history and house prices in your chosen area.

To put yourself in the best position clear the debt and save as much towards a deposit as you can. CCJs will go against you so you may have to wait 6 years from when they were issued so they drop off your record.

You need to be very sure you can afford to buy before going ahead. A mortgage will take a large chunk of your income each month before you start thinking about bills and living expenses.