What are our chances?

Crumble2018

Don't give up - there's still time. Although our credit is clean, We have been offered a mortage with outstanding debt. And I'm 46, yet we still got a 25 year deal. If you can save a 5% deposit, and do it your name alone, there's no reason why you can't do it in a few years. Or even in joint names once his credit has improved. We are also previous homeowners, but sold up in 2012 because of debt. We are also miserable renting, so I feel your pain. We now have the mortgage, but whether the purchase will go through to completeion remains to be seen!!

CurlySue2017

RelievedSheff wrote: »

Things can only get better though and if you both work hard at improving the OH's credit file and save for your deposit you can get that house and become a home owner again.

You don't need a sparkly clean credit history to get a mortgage. We recently got one and whilst the OH's file is clean as a whistle I have two CCJ's on mine. One unsatisfied which will drop off my file in a couple of months and one satisfied from 2015. So it is possible albeit we are paying a high interest rate. But it got us the house we had dreamed of and the high rate is only for a couple of years when we should be able to apply with a mainstream lender again :beer:

Crumble2018 wrote: »

Don't give up - there's still time. Although our credit is clean, We have been offered a mortage with outstanding debt. And I'm 46, yet we still got a 25 year deal. If you can save a 5% deposit, and do it your name alone, there's no reason why you can't do it in a few years. Or even in joint names once his credit has improved. We are also previous homeowners, but sold up in 2012 because of debt. We are also miserable renting, so I feel your pain. We now have the mortgage, but whether the purchase will go through to completeion remains to be seen!!

Thank you both so much for these replies, I really mean that! I am trying my best to hold it all together but it's very tough with everything that's going on at the moment. I just assumed that with my age, by the time we have managed to save anything, it would be too late anyway.


Again, I really appreciate this, thank you and best of luck Crumble!!