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    • Jay1983111
    • By Jay1983111 9th Feb 18, 9:01 PM
    • 1Posts
    • 0Thanks
    Right to buy...bad credit/large deposit
    • #1
    • 9th Feb 18, 9:01 PM
    Right to buy...bad credit/large deposit 9th Feb 18 at 9:01 PM

    Just wondering if anyone has been in a similar situation or has any advice.

    My credit history is not great, no big debts on their just some late payments to catalogue, one default of 25 from 5 years ago and one recent ccj for 250 that I payed a week after it was issued so I think that should technically mean it was wiped?
    I've never had credit cards only phone contracts on there and the catalogue.

    My flat is worth about 200,000 which I'm entitled to full discount of about 100,000.
    I've got a 50,000 deposit I can put down leaving me with 50,000 mortgage.
    Self employed earning roughly 25,000 before tax.

    Is it even possible for me to get a mortgage?

    Thanks in advance for any helpful advice.
Page 1
    • csgohan4
    • By csgohan4 9th Feb 18, 9:38 PM
    • 4,368 Posts
    • 2,724 Thanks
    • #2
    • 9th Feb 18, 9:38 PM
    • #2
    • 9th Feb 18, 9:38 PM
    Best to put your credit files in front of a broker and see if you can get a mortgage.

    However bare in mind RTB does have their own issues, responsibility for all maintenance. More so as a leaseholder.
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • ACG
    • By ACG 9th Feb 18, 9:53 PM
    • 16,697 Posts
    • 8,681 Thanks
    • #3
    • 9th Feb 18, 9:53 PM
    • #3
    • 9th Feb 18, 9:53 PM
    You will be able to get a Mortgage.

    As has been suggested, speak to a broker. The CCJ will be the difference between normal rates and potentially higher rates, so well worth checking your credit reports.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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