i have bad credit but want to buy my council house have 50 % of money need to borrow around 12k?
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algraham89
1 year ago
Expert Financial Adviser Answer
Paul Skinner
answered 1 year ago
Hi,
It is important to know exactly waht type of bad credit you have, and how it has affected your credit file. Before we can judge whether or not you could obtain a mortgage, it would be a good idea to download a copy of your credit file from Experian or Equifax. We could then look at this and decide which companies, if any, would be willing to lend to you.
Also, mortgages are a regulated product, but only for loans of £25,000 or over. As such, mny lenders will not offer a mortgae for less than this amount. It is important to know which lenders could lend such an amount.
Alternatively it may be possible to obtain a "secured" loan. This is similar to a mortgage, but typically the interest rates will be considerably higher.
I strongly recommend you seek the advice of an independent mortgage broker. We would be happy to discuss your situation further, if you would like to call us on 0845 226 5009.
Kind regards
Paul Skinner
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It is important to know exactly waht type of bad credit you have, and how it has affected your credit file. Before we can judge whether or not you could obtain a mortgage, it would be a good idea to download a copy of your credit file from Experian or Equifax. We could then look at this and decide which companies, if any, would be willing to lend to you.
Also, mortgages are a regulated product, but only for loans of £25,000 or over. As such, mny lenders will not offer a mortgae for less than this amount. It is important to know which lenders could lend such an amount.
Alternatively it may be possible to obtain a "secured" loan. This is similar to a mortgage, but typically the interest rates will be considerably higher.
I strongly recommend you seek the advice of an independent mortgage broker. We would be happy to discuss your situation further, if you would like to call us on 0845 226 5009.
Kind regards
Paul Skinner