Hi i wonder if anyone can help, my partner and i are in the process of trying to get a mortgage, ive got my own property, owe £75000 its worth approx £125000, good credit rating, partner lives with me, earns £40000, bad credit rating, he's got a £200 possibly payday loan in default, and £465 vanquis credit card thats still in dispute about how much is owed.
A broker managed to find a MIP with Precise Mortgages at 25% deposit, house we want is currently up for £180000 and is a builders part ex. we are hoping to part ex our house, for this one. Maybe get the builder to reduce price a bit. Maybe end up with £135000 mortgage.
The only snag is, is that the loan is only for 10 years, so the payments would be approx £1300 a month which is too much, the broker said that the £465 is due to 'drop off' credit file after two years on sunday, and that Precise mortgages might offer us a better rate, maybe a longer term on Monday, what does anyone think? Does anyone have experience of this? Thanks for your help.
A broker managed to find a MIP with Precise Mortgages at 25% deposit, house we want is currently up for £180000 and is a builders part ex. we are hoping to part ex our house, for this one. Maybe get the builder to reduce price a bit. Maybe end up with £135000 mortgage.
The only snag is, is that the loan is only for 10 years, so the payments would be approx £1300 a month which is too much, the broker said that the £465 is due to 'drop off' credit file after two years on sunday, and that Precise mortgages might offer us a better rate, maybe a longer term on Monday, what does anyone think? Does anyone have experience of this? Thanks for your help.