Found 21st Dec 2016
Hello after some advice me and my husband have came into a bit of money we are looking to buy our council house. but we both have got very bad credit report can I still buy ?

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It depends on a number of different factors but the poor credit in itself isn't necessarily a barrier.

I'm an independent mortgage adviser, if you'd like a chat PM me and I'll point you in the direction of our company website etc to confirm we are a fully authorised firm on the FCA Register.

You are probably best speaking to a mortgage provider or a mortgage advisor.

You will likely be offered mortgages at much higher rates

You will find it very difficult to get a mortgage i am afraid. Try calling mortgage brokers as they are best placed to deal with complicated applications.

we have just gone through the same thing my husband and I. Speak to a mortgage broker. we had no savings and a lot of debt and he was still able to get us a mortgage. don't forget with council the longer u have been a tenant the more discount u get. we got 51% discount with some mortgage providers class this as your deposit. good luck x

If you have outstanding credit defaults pay these off first . The better your credit rating, the better the interest rate you will get. Make sure you can afford the repayments because a council landlord may be more lenient than mortgage provider if you get into arrears. Good luck but take professional advice
Edited by: "psychobitchfromhell" 22nd Dec 2016

Pay off ALL current debts. Cancel all but one credit card. Use that CC for all your day to day purchases (don't use your debit cards) but set the repayment to automatically pay full balance every month. This way you won't pay any interest and your credit score will improve as you're showing you can repay your debts every month. You'll need to do this for 6 months at least and make no mistakes! Don't be tempted to pay less than the total every month.
Although this may not help if you've ever been declared bankrupt, defaulted on a secured loan or have CCJ's ... not much you can do about that history except wait them out .... I believe 5 years but may be corrected by someone else.
Edited by: "japes" 22nd Dec 2016

All previous advice has been posted not even knowing the amount of money you have and what your deposit to mortgage ratio would be? This will make all the difference irrespective of credit rating.

Original Poster

thanks all. I'm hoping to get my house for around 60k I can afford 5% deposit. will defo book an appointment with mortgage advisor in the next year and arrange to pay some debts.

Best advise that improve credit rating buy everything on CC then may it off on time. Every month it will improve your score.
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