Hi There,
Me and my girlfriend are looking to get our first flat together and have seen some we are interested in. We're looking at purchasing a share of the flat (25-35%) so need no more than £80,000. We spoke to a mortgage broker and he said that our salaries combined we fine for the properties in mind and that we should view them and get back to him when were ready. The problem is he asked for credit reports and I have a "Very Poor" (504) credit rating while my girlfriend has "Excellent". I admit I've always been bad with my money but if I was paying a mortgage then I would be fine with payments. On my credit report the negative factors are Missed Payments (one recently for a phone bill), I am not registered on the electoral role (as my parents sold their house, so I now live with my girlfriends parents), and a default from a couple of years ago.
We spoke to the mortgage broker and he said he would be unable to find a lender for us.
We do not want to rent as the mortgage repayments (plus other bills) would be cheaper than renting, and renting would make it hard for us to save money. We have a deposit of around £5,000 (it can be increased to £8,000 if need be).
We're absolutely gutted from the news and I was wondering if there is any way we can get a mortgage between us?
Thanks in advance!
Me and my girlfriend are looking to get our first flat together and have seen some we are interested in. We're looking at purchasing a share of the flat (25-35%) so need no more than £80,000. We spoke to a mortgage broker and he said that our salaries combined we fine for the properties in mind and that we should view them and get back to him when were ready. The problem is he asked for credit reports and I have a "Very Poor" (504) credit rating while my girlfriend has "Excellent". I admit I've always been bad with my money but if I was paying a mortgage then I would be fine with payments. On my credit report the negative factors are Missed Payments (one recently for a phone bill), I am not registered on the electoral role (as my parents sold their house, so I now live with my girlfriends parents), and a default from a couple of years ago.
We spoke to the mortgage broker and he said he would be unable to find a lender for us.
We do not want to rent as the mortgage repayments (plus other bills) would be cheaper than renting, and renting would make it hard for us to save money. We have a deposit of around £5,000 (it can be increased to £8,000 if need be).
We're absolutely gutted from the news and I was wondering if there is any way we can get a mortgage between us?
Thanks in advance!