A YOUNG couple managed to get on the housing ladder despite racking up £8,500 worth of debt from personal and payday loans.
The landlord, a childhood friend of Ben’s, wanted to sell up and gave the couple first dibs on making an offer on the house.But in the back of his mind, Ben, a project manager for an aviation company, knew he might have problems getting a mortgage.When their landlord wanted to sell the house, Ben and Kathrynn Topps were given first dibs to make an offerBen had previously taken out more than £8,000 in payday and doorstep loansand personal loans as well as two county court judgments .
THERE are lots of ways to get those numbers higher and here we run down solutions to improving creditLate payments, even if only slightly e.g. a few days, can have major negative impacts on your file.
The site takes your information and matches you with mortgage brokers around the country who specialise in helping so-called “mortgage misfits”. “There was a lot of paperwork involved to confirm debts had been paid off and what was behind the CCJs,” says Ben.Ben and Kathrynn took out a two-year fixed rate mortgage with Vida Home Loans at a rate of 5.05 per cent.
“We completed on the house in April and the monthly mortgage repayments at £601 even cost less than what we were paying in rent,” says Ben.
Good on them both! Best of luck for the future.
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Source: Daily Express - 🏆 26. / 68 Read more »