I’m looking to get a mortgage at some point in the very near future. i’ve not got a great credit history. this will be a joint mortgage with my fiance, his ratings seem to be fine, but it’s just mine that’s the bad credit.
any advice would be great.
thanks
buildcredit.ifastnet.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Depends on your rating, length of debt and lender. They may ask that you make a financial plan to show that you can afford to pay, otherwise your other half will be expected to pay.
Why not check out http://www.moneymadeclear or http://www.moneysavingexpert – both sites legitimate and have lot of good information, help and places to check out.
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Depends what you mean by "bad credit".
If you have a discharged bankruptcy or an IVA, currently you will find it almost impossible. Mortgage arrears, any more than 1 late payment in the last 12 months and you’re in trouble.
CCJs and defaults are not so clear cut, and depends on a number of factors, such as how many of them you have, how long ago they were, how large it or they were, and whether or not you have cleared them.
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Mortgage Advisor of 6 years experience. Please let me know if you need more help.
Visit a building society and ask them to evaluate your position with a view to a loan. They will do a ‘dummy run’ which will give you the answer you need. There is no other way as your circumstances and the society’s rules are unique.
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You need to repair your credit rating. Get in touch with Experian
http://www.experian.co.uk/freereport/?sc=410008&bcd=yahoosearchcredxpert
and find out what your credit rating is. If it is bad you can repair it. DO NOT PAY FOR THIS SERVICE> Contact your local Citizen’s Advice office and they will help you plan a repair of your credit rating.
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buildcredit.ifastnet.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
References :
The good news is there are mortgage lenders that offer loans to people with bad credit. The bad news is that they’re more expensive and you also need to watch out for the fine print, as usual. If you think your credit will improve in a few years and you have enough for a down payment now, you can get a balloon bad-credit mortgage and plan to refinance at a cheaper rate when the balloon payment comes due. Or get a normal adjustable-rate mortgage and then still plan to refinance it at a lower rate and pay it off in a few years, though you need to make sure there’s not a pre-payment penalty which will prevent you.
Here’s an article that explains how to look for a mortgage if you have bad credit, and also mentions some of the pitfalls and things to look out for: http://www.paydayloner.com/bad_credit_mortgage.html
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