Hi everybody,
I'm getting increasingly frustrated with not being on the property ladder and am under significant pressure to get on it. My situation and confusion is as follows:
1) I'm 24 and on a decent wage £41k and secure, with a foot on a good career ladder. Borrowing calculators say on this alone I could borrow a significant sum but in reality I'd be comfortable with borrowing between £100 to £120k.
2) My Mum is due to come into a significant sum of inheritance, it's waiting at probate stage right now and it has been suggested the best thing they could do for me is get me on the ladder.
3) THE most frustrating thing is that despite 1) & 2) I have a very poor credit rating (around 360) because of silly things I have done in the past - namely 1 or 2 defaults with Orange on a mobile contract, a default with HSBC and a default with Halifax - all monies are settled, but I cannot see how to get round this.
The only alternative I can see for now is that if my Mum comes into money they both do the Springboard Barclay mortgage but would this still take into account my poor credit rating? Grr.
Is there ever going to be a way round this or not despite my decent salary/savings and projected career path :(
I'm getting increasingly frustrated with not being on the property ladder and am under significant pressure to get on it. My situation and confusion is as follows:
1) I'm 24 and on a decent wage £41k and secure, with a foot on a good career ladder. Borrowing calculators say on this alone I could borrow a significant sum but in reality I'd be comfortable with borrowing between £100 to £120k.
2) My Mum is due to come into a significant sum of inheritance, it's waiting at probate stage right now and it has been suggested the best thing they could do for me is get me on the ladder.
3) THE most frustrating thing is that despite 1) & 2) I have a very poor credit rating (around 360) because of silly things I have done in the past - namely 1 or 2 defaults with Orange on a mobile contract, a default with HSBC and a default with Halifax - all monies are settled, but I cannot see how to get round this.
The only alternative I can see for now is that if my Mum comes into money they both do the Springboard Barclay mortgage but would this still take into account my poor credit rating? Grr.
Is there ever going to be a way round this or not despite my decent salary/savings and projected career path :(