Bad credit shared ownership and mortgage

Supercali24

Hi,
First time posting and really hopeful for some much needed advice.
I am in the process of selling my property and I'm in 40k worth of debt. This will be paid off on completion but I have really hurt my credit. It's very poor with at least 2 ccjs as of last month.
My money is tied into the property and I'm grateful that I'm finally getting a fresh start. I'll have a large deposit but have spoken to a number of adverse brokers who have said I won't be a suitable candidate for a mortgage. This advice was early this year and my credit hasn't improved since then.
Would I be able to buy shares in a property via shared ownership outright and just pay rent? I've got two dependents and want to avoid private renting if possible. I'd have a healthy deposit and earn around 50k a year. I'm hopeful to have this new start with the children. We really need it. 
Not sure exactly where to post this, and open to advice and experiences.
Many Thanks 

gwynlas

Are you selling the property in order to release money to pay off debt or for some other reason?

You might be better off staying where you are and look at other ways of dealing with things.

Please give some more details as lots of people on the forum are very knowledgeable and can advise.

Supercali24

Hello,
Thanks I'm selling due to a relationship break down. The money from the sale will help me clear my debts and get a new property. My credit is really poor and I have no time to pay off the debts and improve my credit, unless we rent privately.
I've been looking into shared ownership and wondered whether it was an option for me. After all debts are paid off I'll have 100k to put towards a percentage of a property without a mortgage potentially. 

chanz4

I would go for a lower share one, where dont need a mortgage and then staircase once clear.  One option to look at see if grounds for ccj set aside

Supercali24

Thanks, I'm certainly shopping around to see best options with shares at the moment. 

housebuyer143

Shared ownership will probably be the only thing that will work for you, because you won't get a mortgage for a while with new ccjs. Depending where you live you might be able to get a share for £100k. My sister lives in Exeter and got 30% for £120k. There is normally a minimum you have to purchase though and it's set by the developer.