We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Shared Equity Mortgages
Ali25
Posts: 14 Forumite
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
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
Proud to be dealing with my debts!!
Money owed (as of 30.11.07)
- Barclaycard: £4300
- NatWest Credit Card: £2050
- Halifax Current Account Overdraft: £1000
- Barclays Current Account Overdraft: Around £1900 (Interest free)
- Student Loan: Around £13000 (but not counting as no plans to pay this off except for monthly deductions from wages)
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards