First Mortgage Advice 19 January at 11:07AM in Mortgages & endowments 1 reply 100 views

BlueJ94

So, as some of you may of seen (long story short, LL selling my house and we offered to buy it, 80k asking we're offering 75/77k) 20% deposit we're saving. 

I'm just after advice and tips basically, my Credit Score is 404 so not the best, I have Defaults/missed payments, NO CCJS etc. What's the best way to go about trying to apply for a mortgage, I work 44 hours a week full time and my OH is self Employed. Just after any advice, tips or words of wisdom as my OH thinks we're going to be able to get this mortgage without any hassles but I think otherwise, I think it's going to be a lot harder than he thinks. He assumes we're going to be able to get at least 120k (we only want 60k) but we're not sure if him being on the mortgage will decrease the chance of getting one and he suggested him staying off it if needs be. Also, I'm still paying off some PP and CC's so technically still in debt and this whole mortgage has kicked my butt into gear a lot more to sort it asap.

I've started the money saving already because even if we cant buy the house we're still going to pay rent there anyway so it will help out a little at least.

mi-key

I would contact a mortgage broker. Because of your low credit score and debts and ( relatively ) high LTV a lot of the high street lenders will turn you down, so you may need to go to someone more specialist.

Good news is you are borrowing a pretty small amount so there should be someone out there who can help you