Hi guys, i'm sure this has been asked before nut would like some advice re my current situation.
My wife's parents have acquired a new house from family which are going to move to and have decided to sell their house, it has been valued at £180,000.
they have offered us the opportunity buy it at market value and they are willing to give us £25000 from their savings for a deposit so we would need a Mortgage of £155000.
My wife has a perfect credit rating and has never owned a house, she has a good job and earns £30k plus a year.
I am the problem! I have a very chequerd history with a BR in 2004 when my business went t*** up, this was satisfied a year later. Since then my history has been ok and we got our 1st house together in 2006 and I got a mortgage in my name. This was sold as we had to move for work so we now rent. In 2009 i got in a bit of a mess with the Dreaded pay day loan people which resulted in a default on my file in Novemebr 2011 - this was for £400 and was paid straight away and is showing satisfied. I have since got a better wage and have a coulple of credit cards etc but no real debt.
So we were just plodding alond, getting by, enjoying life, paying the rent and now this opportunity has come along and its not one you get very often - I just done want to be the thorn in its side!
We have met with a broker who I told about the BR and he asked if it was showing on my experian file - which it is not - or i cant find it!
My main question is (before i go back to my broker) are there companies that will give us a Mortgage based on the above, he said affordability wasnt a problem so it going to be all down to credit score etc. (I know he is going to come back to us but i'm stressing in the mean while till he does so some advice etc from those who know the score would be very helpful)
Thanks in advance :)
My wife's parents have acquired a new house from family which are going to move to and have decided to sell their house, it has been valued at £180,000.
they have offered us the opportunity buy it at market value and they are willing to give us £25000 from their savings for a deposit so we would need a Mortgage of £155000.
My wife has a perfect credit rating and has never owned a house, she has a good job and earns £30k plus a year.
I am the problem! I have a very chequerd history with a BR in 2004 when my business went t*** up, this was satisfied a year later. Since then my history has been ok and we got our 1st house together in 2006 and I got a mortgage in my name. This was sold as we had to move for work so we now rent. In 2009 i got in a bit of a mess with the Dreaded pay day loan people which resulted in a default on my file in Novemebr 2011 - this was for £400 and was paid straight away and is showing satisfied. I have since got a better wage and have a coulple of credit cards etc but no real debt.
So we were just plodding alond, getting by, enjoying life, paying the rent and now this opportunity has come along and its not one you get very often - I just done want to be the thorn in its side!
We have met with a broker who I told about the BR and he asked if it was showing on my experian file - which it is not - or i cant find it!
My main question is (before i go back to my broker) are there companies that will give us a Mortgage based on the above, he said affordability wasnt a problem so it going to be all down to credit score etc. (I know he is going to come back to us but i'm stressing in the mean while till he does so some advice etc from those who know the score would be very helpful)
Thanks in advance :)