[macmac]

if you are a first time buyer you will need a 15-25% deposit . If you are going buy to let you will need about 35%. Defo get a mortgage advisor, can save you £££ and save the stress of getting knocked back all time. you must remember though, that banks at the moment reserve the right to alter, change or move the goalposts at any time if it benefits them.

I would get a FA because you can get a place for 10% deposit 

I wouldn't think just anyone could. It will depend on many things. If you want my honest oppinion the OP will struggle to even get a mortgage let alone one with anything like a decent rate unless he's got 25% deposit! A past poor credit history + (if I remember right) he's not been going long in his business. Both will go against him very much so.

[gewindows]

Does those guys normally charge a shed-load?

It would be prudent to check out your financial status first at a minimal cost to see how you stand, you never know you might be fortunate enough to be able to get away with a high street rate of interest.

the guy I know i does not charge.

they will not charge, they make commission on sales

they get money off the mortgage company but still get the best deals about what ever the credit rating.

Okie dokie, never knew that.

[matt]

if you are a first time buyer you will need a 15-25% deposit . If you are going buy to let you will need about 35%. Defo get a mortgage advisor, can save you £££ and save the stress of getting knocked back all time. you must remember though, that banks at the moment reserve the right to alter, change or move the goalposts at any time if it benefits them.

I would get a FA because you can get a place for 10% deposit 

I wouldn't think just anyone could. It will depend on many things. If you want my honest oppinion the OP will struggle to even get a mortgage let alone one with anything like a decent rate unless he's got 25% deposit! A past poor credit history + (if I remember right) he's not been going long in his business. Both will go against him very much so.

you need a good a LTV % these days at the best of times

[richywilts]

cheers for all the replies been really helpful yeah i know its a long shot with me not being in business all that long but its a good opportunity so thought would ask how you guys had got on getting yours, i havent really kept any books unfortunately as iv not really been that busy till the last 3-4 months just wat the window cleaner pro software tells me ive taken!!!

i was planning on starting writing everything down in january n had even been out to be buy an accounts book but without working aint had much chance of puttin into practice.

im going to see a couple of mortgage advisors this week and should be able to borrow 10-15% deposit off my parents hopefully.

keep ya all posted

cheers

richy

[matt]

im going to see a couple of mortgage advisors this week and should be able to borrow 10-15% deposit off my parents hopefully.

that will most prob be too low, you will need 25 % LTV , unless the value of the house is much less that your going to pay

[macmac]

You've nothing to lose Richy by going to see someone, I wouldn't get your hopes up just yet but good luck all the same.

[richywilts]

i know the chances are slim, another alternative is that i pay off all his mortgage payments he overdue with keep paying the mortgage etc till im in a better position to go for a mortgage then knock off wat i have paid off the value of the property at the time

[bravo20]

Richy

If you parents are willing to lend the deposit it may be worth trying to use them as guarantors. Regarding your past history if it's over 6 years ago it will not show on your credit file. You can get a free copy of your file from experian or equifax, you have to enrol and submit either credit or debit card details but if you cancel within the first month they do not take any payments. It's worth doing this first so when you see an advisor they know exactly what they're dealing with, saves them a lot of time when trying to place the mortgage and means no unneccessry credit searches.
As has been said make sure you use a fee free, independant mortgage advisor who can source the whole of market, make sure you ask them and they have to give you a disclosure document stating how they work. A couple of the big ones are London & Country and Charcoal. A quick google search will find them and it can all be done over the phone and by post.

[mark dew]

I got a mortgage 2 1/2 years ago. Before the market clammed up. I saw an independant FA and it cost me £150. That was only payable on getting a mortgage.
You won't get anywhere with banks, i don't think.
I'm sure i heard a month or 2 back that a couple self cert mortgages are available again.
ps
I had a bad credit rating but could put down around 27% deposit.
And my opinion is that going through financial advisors that are tied is probably a waste of your time and at the least your money.

[richywilts]

i was actually going thru with a mortgage must be 2-3 years ago before my son was born and was accepted etc but that was with my ex partner who was a dental nurse i pulled out after the survey of the house, maybe this can come to my advantage in sum way i was working fittin upvc fascias then and was self emplyed to that was for £120,000 mortgage.

hopefully my parent would go guarantor for me as there house is paid for.il check out sum independant fa's tmoz n see how i can get on

cheers guys

[d s windowcleaning]

ive just bought a house and mortgage payment went through today , i bought this from family and needed a mortgage for £60000 the house is valued much more than this so i got a gifted deposit
house value £11000
motage =   £60000
therefore i got a gifted deposit of £50000
if your uncle wanted say £70000 but the value was £100000 you could get a gifted deposit of £30000 .
ask your advisor about gifted deposits then work something out with your uncle you wont need to pay anything out when you buy from family .

[richywilts]

cheers daveshaw thats excellent news il mention that yeah the house is prob worth about £100,000 maybe more its just run down n messy like you would expect an drunk old mans house to be, im just hoping he'd except £80,000 prob wouldnt get much more at auction would it 

[peter holley]

I had a self crt mortgage for a house in 2008... the house was £200,000, I had to put down £33,000, and the mortgage was for £167,000..... I didnt need books, just proof  that I could afford the repayments...

but since then the market has changed, but like some havesaid , it should stabilise soon...

[NWH]

The truth is in this climate you will need to have an A1 credit rating being a manual worker aswell dosen`t go in your favour,if you can`t get a mortgage from the high street chances are you have a bad credit rating or don`t earn enough to get 1.1 bank turned me down once purely on the basis of being a WC,the bloke processing the application couldn`t believe it i was earning over double his wages at the time even he had a laugh.