I need a mortgage but have a very bad credit rating!?

My boyfriend has a good credit rating but is self employed, I have a terrble one due to being a student a while ago!


We only want a £20000 mortgage to buy land to gain planning permission on (we are architects) any good companies or ways around this? (my boyfiend has only been self employed for 1 year so only has 1 years books!) Thnaks

I need a mortgage but have a very bad credit rating!?
i did not no you could get one to buy land , i do not think you have any chance
Reply:nope
Reply:Try gmac, they are a good company for people who are self employed or have bad credit ratings, Northern rock are also good for this
Reply:Apply online at www.surefirefinance.co.uk they should be able to help.
Reply:im a mortgage advisor, so i can probably help....





1, do you want to borrow the money to buy the land or to build the house? or both?





2, what is the price of the land?





2a, does the land already have planning permission? most/all companies wont allow you to buy land that doesnt have planning permission (residential)... you may be able to get a commercial loan for this though





3, how much of a deposit do you have?





4, how much do you / boyfriend earn per year?





5, what other commitments do you have... ie loans, credit cards etc...





6, where are you located
Reply:hi you're best bet would be to speak to your lawyer and ask his advise. if u have already done so u will pro find that u and you're boyfriend will get a joint mortgage from a broker.
Reply:Bad credit is one of the worst problems to have... however there exists a solution.





I will hereby talk from my personal experience.





I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,


if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,





a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :





http://umgarticles.atspace.com/debt-cons...





if it helps kindly remember me in your voting!.. cheers!
Reply:hi,try looking on the internet for companies that do SELF CERT mortgages or loans for people who's credit ratin is not too good.they don't need to see any proof of income, maybe just proof that he is self-employed.i've been self employed for 9 years and have remortgaged 3 times using this method.and at one point our credit rating was bad.just keep an eye on the interest rates
Reply:Get a Self Certification Mortgage. The best companies for this are GMAC and TMB it's best to do it through a Mortgage Broker. A Self Cert. mortgage is meant for the self employed, it means you declare what your earnings are and they do not ask for proof. It is used a lot for Buy-to-Let property purchases where you know the rent will cover the mortgage payments (or you can make up the difference). Other companies say they offer Self Cert. then they ask your accountant for your last 2 years accounts! Make sure it is truly Self Cert. product. Also make sure you can afford to pay the mortgage you are going for, you could take in a lodger or purchase the property with a friend who has a good credit and accounts to show (or salary), then you need to buy it as 'tenants in common' so that if one dies their share goes to their Estate not to the other owners, unless you want it that way. If you are buying land to build on try 'The Build Store' they provide self build mortgages. Hope that helps.