Page 1 of 1

low doc high deposits guarantor bad credit home loan

Posted: Mon Apr 27, 2015 9:31 pm
by emmajane86
hi i am single parents payments and family tax benefit and have been subcontracting for about 10mths. i will be around the 50thou mark for the financial year. I have 30thou as a deposit from a inheritance. i have been paying 1100 per month in rent without fail for the last 3 years and 650 for years beforehand. i have a few default one has been paid. my mother will also go gaurentor for me with around 200thou equity in one of her properties. i have 3 children and my monthly expenses are about 800 outside rent. no loans or cards, what would my borrowing power b if any? would someone lend me a mortgage ?

Re: low doc high deposits guarantor bad credit home loan

Posted: Wed Apr 29, 2015 6:13 pm
by Tony Dao
Hi Emmajane86,

Thank you for using our forums.

Unfortunately Guarantor, low doc and defaults do not go together.

Some of criteria for low doc is 20% deposit and we cannot use guarantor with the low doc option.

It is recommended you give us a call to discuss in more detail.

Re: low doc high deposits guarantor bad credit home loan

Posted: Sun May 03, 2015 1:10 pm
by emmajane86
are there any other mortgage options that would suit my situation?