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Could I get a shared ownership mortgage with 5% deposit?
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Mjl1990uk
3 Posts
(Offline)
1
07/01/2021 - 10:33 am

Hi team

Some advice please.

2 recent deposits (last 2 years)
CCJ 2 years ago but also satisfied

Experian credit rating is very low.

But then…

Good income (£53,925) and no outstanding debts, credit card balance at zero. No dependants.

History of good rent payments, reported by credit Ladder (private)

I have around £5000 in deposit, but just moved to this job. I have not been unemployed in the last 3 years but have had an external promotion each year.

Is it likely I could get a shared ownership mortgage or am I better off waiting until I’ve been in my job 12 months and saving more deposit (I can save £1000pcm at the moment).

My private tenancy is about to run out so if I could buy now, I would.

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101 Posts
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2
07/01/2021 - 10:34 am

Hi, thanks for getting in contact.

There are many factors at play here however on face value this is likely to be possible.

The key variables would be exact details of your credit issues and what your employment history over the past 12 months looks like.

We’d be more than happy to help.

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Mjl1990uk
3 Posts
(Offline)
3
07/01/2021 - 10:34 am

Thank you David. I am also considering getting a full mortgage with a 10 percent deposit. That won’t be until around August. How soon would you suggest I talk to you and or make the application?

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Mjl1990uk
3 Posts
(Offline)
4
07/01/2021 - 10:34 am

David I’ve sent you an email regarding my circs with the work details you requested plus a but more about me. Id appreciate a call or email back. All the best.

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101 Posts
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5
07/01/2021 - 10:35 am

Ok great, I will come back to you via email from this point onwards.

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