First time buyer…Advise needed

johngt_2

I am looking to buy a property and I am on 32K sal. I have only recently (Just 1 month) started to work on a perm role. I am looking to buy a property under 120K. But do not have a deposit to put down.
I have 12000 o/s on credit card.


I need to know if I will be able to get a 100% mortgage ( without any brokrage charge for setting up a mortgage) with my current situation.

Any advise would be highly apprecialted.

herbiesjp

The £12k on credit cards will really impact on your mortgage capability here

There may be one or two lenders that could agree this for you, but you will need a top notch credit score to get anywhere close

Have you got a copy of your credit file from Experian or Equifax?

johngt_2

Yes, i have obtained a credit report from experian and equifax. I have not missed any payment for the last few years but i have already used up all my credits.

I have spoken to few brokers and they say there will be a brokerage charge of around 1% payable to them as i might not get a mortgage thru high street banks or prime lenders. Not sure if thas true on the first place ?

herbiesjp

Plenty of fee free whole of market advisers out there to choose from.

NOt sure why they would not expect you to get a prime mortgage if you do not have any adverse credit history