Am I eligible?

kristian463

Hi all... first post but I thought I would ask some advice and the web is a minefield. 

Current situation - 38yrs old, 3 x default (all 18 months old and currently non satisfied), have a lump sum for deposit (can put in about 15-25k and this is being gifted). Work part-time (12k annual and I’m also a student). Looking at new build property around £120k. Have the ability to have a guarantor (if required) as my father, who is happy to do it, still works and earns £55k. What do you think the best route to do go down?? I’m so far a little confused and overwhelmed by the “adverse credit” marketplace. Any advice is greatly appreciated. 

**looking for advice... not a telling off** 😊

csgohan4

generally you can only borrow x4.5 your gross income excluding debt, 12k a year means you can only borrow 54k plus what ever you can put in for deposit so far from your 120k aspirations

regarding guarantor that is certainly broker territory, however with Unsettled defaults, this will be frowned upon and a sign of money management. An adverse broker would be useful for you, but given as criteria has tightened up due to the current situation it may be difficult.