Hi, I’m looking at getting my first mortgage but have a bad credit rating, I also have about 10k of loans and credit cards including payday loans. I also have a ccj which will come off my file this April for roughly £300. Another thing is I had trouble with gambling the past 6 months so this would appear on my bank statements. I also have about £45k deposit but would use that to clear loans and debt leaving me about £35k deposit. Is there any chance of getting acceptance anywhere?
Craygey said
Hi, I’m looking at getting my first mortgage but have a bad credit rating, I also have about 10k of loans and credit cards including payday loans. I also have a ccj which will come off my file this April for roughly £300. Another thing is I had trouble with gambling the past 6 months so this would appear on my bank statements. I also have about £45k deposit but would use that to clear loans and debt leaving me about £35k deposit. Is there any chance of getting acceptance anywhere?
Hi, thanks for getting in contact.
A mortgage can certainly be possible under these circumstances however if you wanted to improve your chances avoiding both payday loans and gambling sites would do that.
The size of your deposit in relation to the purchase price and the last 3 months of your bank statements will be the key to this.
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