[zeusjazmin]

hello guys if i could get any advice regarding mortgages i would be greatful.
been self employed cleaning windows for 15 years now.
around 2002 i got into a lot of debt and missed lots of payments,in fact i made amess of things!
by 2006 i have repaid every penny i owed and things are going good.
i dont have any debt whatsoever and i have now got a steady income with the help of some good contract work.
the problem is i now want to buy my first house(council right to buy) but i am hesitant to take the first step due to my past.
do you think i would get a mortgage?
is it harder for us window cleaners to get a mortgage due to ups and downs in takings due to rain and snow etc?

[DASERVICES]

Zeus,

It's all changed with Council Houses right to buy. Tried to buy my old mans and was not worth it. You no longer get the 60% off, they only offer around £6000 off which is a waste of time with house prices dropping.

[wightsurf]

you can get a credit report, this will help you understand where you are in the scoreing zone . This is how banks look at you i'm afraid. Also do you have a accountant they can help with this . For Abbey i think you need three years worth of accounts to show them your income. This would be proved income again a accountant can help with this.

[matt]

i spend a little time on a financial forum, so i read a fair few posts like yours

you will struggle with a mortgage thats more than 60 % , you will really need to find a big lump sum ( 40 % ) to put down

[Window Washers]

Why is this being posted on a window cleaning forum :, if you listen to window cleaners on mortgages god help you.

[pingu]

Possibly because many here have obtained mortgages and had to jump through the same hoops...with regard to profession, books, incomes etc, etc

Dave.

[zeusjazmin]

why am i posting on a window cleaning forum?.............its beause all the guys on it are in the same proffesion as me,so where better to get first hand advice

[Helen]

why am i posting on a window cleaning forum?.............its beause all the guys on it are in the same proffesion as me,so where better to get first hand advice

Your bank, that's where, speak to the financial advisor there. They will go through step by step with you and if you don't understand then ask. You don't have to sign up with them, but just glean all info you can from them and then go see a mortgage advisor. I used to be a mortgage advisor a long while ago and people asked me for advise on mortgages etc. If they had asked me for advise on window cleaning, I would have advised them to see a window cleaner. 

[mark dew]

Hi, my situation mirrors yours. Same dates etc.
The best thing you can do is see an 'independant' financial advisor. They will tell you what is on offer at the moment. Preferably a bloke who works from home, in my experience.
Whatever is on offer, you will need a hefty deposit.
I'm up for a re-mortgage now.
good luck

[mattywig]

I bought my council house 5 years ago with similar circumstances to yourself but still got a decent deal with a company called Birmingham Midshires they are a division of halifax and specialise in self employed lending at good rates.  I use a good friend of mine who is an independent financial adviser he will definitely be able to get you a mortgage no question about it.  If youd like to speak to me about it I'l email you my phone number.

Cheers Matt

[kenny jones]

I was in a very similar position 10 years ago.  Firstly your ccjs stay on for 6 full years i think if you have more than 1 your buggered the banks wont touch you.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

You definatly need a financial advisor they are great and will pretty much tell you yes or no straight away.

good luck.

[mattywig]

I was in a very similar position 10 years ago. Firstly your ccjs stay on for 6 full years i think if you have more than 1 your buggered the banks wont touch you.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

You definatly need a financial advisor they are great and will pretty much tell you yes or no straight away.

good luck.

it's more of a property snake than a ladder!!

[matt]

.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

as i said above, most will want 40 % these days, with the housing market dropping they like that cushion

[zeusjazmin]

windowwashers,lots of guys on the forum ask advice about vans,the reason they ask is...fellow posters may have a bit of knowlege regarding vans....now you could well say they should ask a mechanic....but sometimes if a fellow poster has been in a position to give advise it helps

[Window Washers]

windowwashers,lots of guys on the forum ask advice about vans,the reason they ask is...fellow posters may have a bit of knowlege regarding vans....now you could well say they should ask a mechanic....but sometimes if a fellow poster has been in a position to give advise it helps

i do agree with you, but would get that sort of advice from a fa or mortgage consultant, that was my point.

[seandyer2003]

Its all interesting, i am after a mortgage in the next few years to buy the house i am in , but its a pain having to wait, only done one years books so far, and they are not the best as its still early days, so i might have to do another 3 years o well, at least i can save a big deposit as possible in that time!!

[borg]

I was in a very similar position 10 years ago. Firstly your ccjs stay on for 6 full years i think if you have more than 1 your buggered the banks wont touch you.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

You definatly need a financial advisor they are great and will pretty much tell you yes or no straight away.

good luck.

it's more of a property snake than a ladder
]i went self cert with platform about 4 years ago mines is up in sep but i will be going with my bank this time.

[colley614]

When you buy your house, which one of us do you want to clean your windows 

[Tosh]

I was in a very similar position 10 years ago.  Firstly your ccjs stay on for 6 full years i think if you have more than 1 your buggered the banks wont touch you.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

You definatly need a financial advisor they are great and will pretty much tell you yes or no straight away.

good luck.

I agree with this post.  If you can get a big enough deposit, you will get a mortgage, but herin lies the problem. 

Round here, small privately rented two-bedroom houses start at about £550 a month; add onto that your council tax and utility bills and you won't have much change out of £1K.

Food, tax, vehicle running costs, etc will add another £1K.

So to save up £1K per month, you'll need to be bringing in at least £3K per month; and then you'll be living a fairly frugal lifestyle for a lot of years to save up the deposit; say £30K plus all the fees.

I couldn't do it; it took a hefty inheritance for us to get a deposit; and even though we put a huge wadge down as a deposit, we still have a mortgage we have to work hard to service.

We live on a small Island with a growing population; not enough houses are getting built; things are only going to get tougher.

Oh, and it's easier to buy a house than get a council house round here; unless you've got special circumstances.  The waiting list is literally several years long.

I hope my poverty doesn't disgust some of you rich window cleaners!

[seandyer2003]

I was in a very similar position 10 years ago.  Firstly your ccjs stay on for 6 full years i think if you have more than 1 your buggered the banks wont touch you.

BUT it is all about cash as usual if you can get a 20% deposit you will get a mortgage. i had to go through a company called platform they were very high rates but i got on the ladder.

You definatly need a financial advisor they are great and will pretty much tell you yes or no straight away.

good luck.

I agree with this post.  If you can get a big enough deposit, you will get a mortgage, but herin lies the problem. 

Round here, small privately rented two-bedroom houses start at about £550 a month; add onto that your council tax and utility bills and you won't have much change out of £1K.

Food, tax, vehicle running costs, etc will add another £1K.

So to save up £1K per month, you'll need to be bringing in at least £3K per month; and then you'll be living a fairly frugal lifestyle for a lot of years to save up the deposit; say £30K plus all the fees.

I couldn't do it; it took a hefty inheritance for us to get a deposit; and even though we put a huge wadge down as a deposit, we still have a mortgage we have to work hard to service.

We live on a small Island with a growing population; not enough houses are getting built; things are only going to get tougher.

Oh, and it's easier to buy a house than get a council house round here; unless you've got special circumstances.  The waiting list is literally several years long.

I hope my poverty doesn't disgust some of you rich window cleaners!

Very true, my living expenses would be really increased by saving for a deposit, and then adding a mortgage to my bills, my rent is half what id pay for a mortgage, for the same house so its not exactly an incentive, coupled with the huge change in prices are they gonna drop or rise yet!! I am going to hang fire and save what i can, and see what the future brings...