Hi,
I am really hoping someone here can give me some advice as Iam desperate. Mum and I lived together and she passed away a month ago. We livein a house valued at apx £180,000 and there is £50,000 left to pay. Mum didnt haveany life insurance and I am 39, on disabled benefits and have a terrible creditrating. I will list the facts as briefly as I can.
I have lodgers in thehouse and along with my benefits there is £1,600 incoming each month. I havebeen to Santanderand they have said no to a mortgage for me.
The other option I have is my Brother who has his own house andgood job but his credit rating is good on Equifax and my financial advisorsuggested a buy to let mortgage for him to apply for but now says it will bevery unlikely as he hasnt got a excellent credit rating.
We can easily afford a mortgage repayment between us but cantget a mortgage. I really am desperate to stay here as I have lived with Mum allmy life and due a major operation in 8 weeks, plus I am disabled and we live ina bungalow so its ideal for my situation and mainly with the grief of losingmy Mum I dont think I could cope been made to move.
Santander have frozen the account for now so I dont have topay anything for 2 months do they have a special circumstances mortgage forsomeone in my situation? I will try anything to try and stay here interest only,adverse lenders? The financial advisor thought my Brother was the best optionuntil his credit rating was only good (468 on Equifax- reason one default andone late payment).
The financial advisor has been recommended by a friend and Iam sure he is very good at his job but wanted to ask your advice also as surelywith the amount of equity in the house, my age and incomings and also myBrother there must be a way to keep the house.
Thank you
Sara