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Poor Credit Mortgage Options
BuddyLoveDog
Posts: 1 Newbie
Hi
Looking for some advice. Have had poor credit history in the past but been in a better position for the last 3+ years. Now working full time as of beginning of the month and hoping that in a few months time I can apply for a mortgage. What do you think my chances are??
Im looking to apply for the Help to Buy (Scotland) Scheme - any help with this - how does this work?
Im currently renting privately and over the years have paid an extornate amount of rent but I have paid on time every month for the last 6 years - will this help my credit rating??
I also have a car loan which is up to date and again never missed a payment - again, will this have helped my credit rating?
Im 43 years old and would like to be able to have my own property, but the thought of the whole process makes me nervous - I am a worrier!!
Someone mentioned infinity mortgages - what are these?? I don't want to be forced into a mortgage that only has 25 years to run as I believe that would increase my monthly payment and already pay 545 per month on rent, Im really hoping I can get a longer term mortgage and be paying less each month.
Can any help to point me in the right direction.
Many Thanks.
Looking for some advice. Have had poor credit history in the past but been in a better position for the last 3+ years. Now working full time as of beginning of the month and hoping that in a few months time I can apply for a mortgage. What do you think my chances are??
Im looking to apply for the Help to Buy (Scotland) Scheme - any help with this - how does this work?
Im currently renting privately and over the years have paid an extornate amount of rent but I have paid on time every month for the last 6 years - will this help my credit rating??
I also have a car loan which is up to date and again never missed a payment - again, will this have helped my credit rating?
Im 43 years old and would like to be able to have my own property, but the thought of the whole process makes me nervous - I am a worrier!!
Someone mentioned infinity mortgages - what are these?? I don't want to be forced into a mortgage that only has 25 years to run as I believe that would increase my monthly payment and already pay 545 per month on rent, Im really hoping I can get a longer term mortgage and be paying less each month.
Can any help to point me in the right direction.
Many Thanks.
0
Comments
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Following as looking for very similar advice.0
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You need to speak to a Broker as Help to Buy Mortgage for those with a bumpy credit history are available.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
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