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Getting my first mortgage

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  • #1

    Getting my first mortgage

    Hello. I'm hoping to get my first mortgage at some point in the next few years. It's for a council house that my family has lived in for over 20 years so the cost is estimated to be at around £50,000 total.

    My credit score is currently bad but I'm trying to build it up. I have a CCJ on there (satisfied) from about 4 years ago.

    Everything else is slowly building up to green.

    How much does credit score matter when getting a mortgage?

    Do you think I would be able to put a deposit down with £5,000 (10 percent)?

    If I get a salaried job earning around £25,000 per year minus my current outgoings (£400 per month) does this sound likely?

    Will I need to have been in the salaried job forore than 3 months? Or does the 3 months suffice?

    Thank you
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  • #2
    wait 2 years the CCJ record fall off CRAs records, also present time mortgages are difficult to get and interest rates rising, slow down hoefully in 2 years steady results ? sure others will comment/advise also? I had to produce 2 years pay slips not long ago
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    • #3
      Sounds like a lot of "ifs" there. Seems like the first thing is to get a regular paid job.

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      • #4
        I'm currently studying for a degree (1 year left) and working as a care worker (bank 0 hours contract) and self employed. However the income I currently have varies so much. So yes, I am aware that in order to do this ASAP I will need to get a salaried job as soon as I finish my studies.

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