Can I get a mortgage with bad credit rating?

Together me and my boyf earn £32000. We both have bad credit, and I have a loan of £212 a month, plus credit cards which large amounts. What is the best thing to do? We are considering part rent/part buy. All help appreciated

Can I get a mortgage with bad credit rating?
if you live near a bairstow eves estate agents go in to see them thye usually have mortgage advisors who dont charge you a fee they get their money from the mortgage company. they will be able to search thousands of different mortgages for you. don't go to a high street bank if you have bad credit you won't get a mortgage.





good luck and prepare for the stress!!! x
Reply:My advice is dont do it until you've paid off your debts.





Any mortgage lender will take the loan repayments and credit card debts into account when deciding what to lend you as they have to be sure that you can afford to repay what they lend you.





With a bad credit rating you will already be charged more in terms of interest. Its not worth taking on a large mortgage that you will be unable to repay - there is no point having your home repossessed as you will out on the street and homeless and have an even worse credit rating.





I would rent until your debts are paid off - you will then be in a position to rebuild your credit rating by showing that you are able to repay the loan
Reply:you should be ok. you should have a look on http://www.moneysupermarket.com/mortgage... they have pleanty of guides on there as well as comparing etc. i think they might have some way of checking your credit rating or something too - dont quote me on that one though!





hope it helps
Reply:There are lenders out there who will lend to those with poor credit histories, but the interest rates can be punishing because you are deemed to be a bad credit risk. Better to rent and rebuild your credit rating and save for a good deposit whilst you're at it, otherwise you could get stung. Good luck whatever you do.
Reply:It you can it will be a "bad" mortgage with your poor credit rating. The mortgage will be very expensive.
Reply:Many lenders, banks in particular, deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shop%26lt;!--around and compare interest rates on loans and the terms of repayment with several different lenders. You'll find many internet sites that let you request a loan rate quote from multiple lenders at once. You may find bad credit loans here,





http://badcredits.awardspace.com/





Once you've submitted a request for a loan quote, you'll be contacted by representatives from several companies--%26gt;and can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan.
Reply:If Tobey Maguire wasn't in the next Spider Man movie, would you care?Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.





Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.





You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:





http://www.axalda.info/bad-credit-mortga...
Reply:You will probably have no problem getting someone to offer you a mortgage - however, if you have a bad credit rating, you wont get the best offer available, so it may cost you a bit more. However, by paying your mortgage in a responsible way, it will up your credit rating. Dont give up, I'm sure you will find something.