Hi all
Myself and my wife are looking to purchase the house we are currently renting. We are renting it from a family member and its value is 200k
My wife is self employed and earns approx 28k per year
I work full time and earn 25k per year
I had the following questions:
1) Our credit status is not brilliant but we have no debt now. I have had a CCJ in the past and a few defaults about 4 yeas ago which i know will be showing on the credit file. My CCJ is now fully satisfied since 2008 of £450. My wife has 2 defaults again approximately 2 years old but all paid. What are the chances of getting a mortage? We have a 15k deposit so far. I understand the mortage rate may be high but i am fine with that as i just want to get on the property ladder.
2) Are there any benefits to buying a house of family?
3)What information will the mortgage provider/broker require from us?
Thank you in advance
Myself and my wife are looking to purchase the house we are currently renting. We are renting it from a family member and its value is 200k
My wife is self employed and earns approx 28k per year
I work full time and earn 25k per year
I had the following questions:
1) Our credit status is not brilliant but we have no debt now. I have had a CCJ in the past and a few defaults about 4 yeas ago which i know will be showing on the credit file. My CCJ is now fully satisfied since 2008 of £450. My wife has 2 defaults again approximately 2 years old but all paid. What are the chances of getting a mortage? We have a 15k deposit so far. I understand the mortage rate may be high but i am fine with that as i just want to get on the property ladder.
2) Are there any benefits to buying a house of family?
3)What information will the mortgage provider/broker require from us?
Thank you in advance