Poor poor poor credit need mortgage

[blade4eva89 10]

i am looking at a property to buy i have little bit of a deposit. my credit is extremely poor due to an ex girlfriend. does anyone have any advice where i can get a mortgage been turned down by Lloyds hsbc natwest

[BigAl#13 10]

Stop trying.

 

You aren't acceptable to them now, you won't be if you keep applying and getting turned down. It all affects your credit rating.

 

Rent/lodge/house share and build a (GOOD) credit profile this will then make you more attractive to lenders.

 

Edit: Also get an experian report then get the ex dis-associated from you as her credit history will be linked to yours.

 

Leave it 12months at least before you apply again.

[Badlittlepup 10]

The only way you can get a mortgage with a bad credit rating these days is by having a HUGE deposit, like over 50%. Even people with good credit ratings these days are looking at about a 25% deposit.

[kingius 10]

My advice is to get saving. First, make a list of your income streams (easy this bit) and then start tracking your outgoings. Cut down on your outgoings by, for example, shopping at a cheaper supermarket, scaling back your mobile phone onto a less expensive contract, using the car less and walking more, switching electrical appliances off at the plug socket when not in use and wearing jumpers when its turns cold so you don't need the heating on as high. Do all of these things and you'll end up with about a hundred pounds a month savings, or more. Keep it up and you'll have a proper deposit... and learned a valuable lesson about sacrificing for a better future.

[OlDog 10]

Or just wait for the inevitable, as it's only a matter of time before the criminals at wonga start offering mortgages at 7000% apr...

[sazaboo 10]

Stop trying.

 

You aren't acceptable to them now, you won't be if you keep applying and getting turned down. It all affects your credit rating.

 

Rent/lodge/house share and build a (GOOD) credit profile this will then make you more attractive to lenders.

 

Edit: Also get an experian report then get the ex dis-associated from you as her credit history will be linked to yours.

 

Leave it 12months at least before you apply again.

 

GOOD ADVICE...if you need any more, try forums on the moneysavingexpert.co.uk website!

[retired 10]

I knew of a friend who got a mortgage with a lender who accepted people with ccj's. They stung him with charges and way over the top interest. He eventually lost his home and got a worse credit rating than he started with.

 

Bide your time, clear your history and save a decent deposit. House prices are not going to rise for a few years yet.

[chem1st 10]

Self certs aren't yet illegal...

 

If I were you I wouldn't bother.

 

Build up some savings, sort out your credit rating. You want to have enough put by to cover the mortgage if unemployed for 1-2 years. And that is on top of your deposit.

[Eckolad 10]

People are obsessed with house ownership.

[big_g 10]

In what way is your credit history bad? Is it against your name of your ex's? How long ago did this happen?

 

Most stuff drops off a credit file after six years so if you have any late payments or defaults - they're going to be on there until six years after they were put on. Have you rectified the cause of the poor credit history?

 

Pay the £2 per credit reference agency and get a snapshot of your current credit status. If there is something that you feel is incorrect, dispute it. You can also put a note against each entry on file.

 

In anticipation of your bad history eventually dropping off your file, see if you can build up your current history. Do you have a credit card at the moment? If so, use it a little but make sure that you pay it on time and don't go too close to your credit limit.

 

Apologies for not answering your original question about who may offer you a mortgage.

 

Oh, how much deposit do you have available? How much of your income would be eaten up by mortgage, council tax, utility bills etc.? There used to be a magic figure of 60%. How much capital are you wanting to lend as a multiple of your income?

[chem1st 10]

People are obsessed with house ownership.

 

Land monopoly means that house ownership is a good thing relative to being landless.

 

Landless peasants are nowt but slaves. (Homeowner peasants are still wage slaves, but to a lesser degree - one step up from the filth at the bottom)

 

Many homeowners are slaves to an even greater degree, but taking on a mortgage and realising property ownership in the future can result in greater freedoms.

 

Get rid of land monopoly and house ownership becomes irrelevant. Christ, we would build each other better homes for the sake of it. Everyone would be housed.

[anywebsite 10]

BigAl & Big G sound about right. Try to clear up your credit history, get a credit report, then try to get anything there that shouldn't be there removed. I think you're in the clear after 5 or 6 years anyway.