Shared Equity Mortgages

Ali25

I am in the extremely early stages of thinking of buying a house. Unfortunately my partner has recently been declared bankrupt and so it will just be in my name. I earn £18340 a year and currently owe about £6000 to two credit cards, which I am paying off monthly at more than the minimum amount. I have around £15000 deposit (which for personal reasons ie the money is with my parents, cannot be used to pay off the credit cards which would seem the obvious thing to do!)

I have spoken to a mortgage advisor on the phone who mentioned shared equity mortgages, and was wondering if anyone could give me some more information on these. Obviously, I will be able to borrow more with this type of mortgage - the mortgage advisor said up to £137000.

Thank you for your help, in advance!

Alice