I've a couple of questions that I'd appreciate some advice with.
First of all a quick background...
I'm thinking of buying my house under the right to buy in Scotland. I'm entitled to a Â£15000 discount on a house worth Â£60000. therefore Â£45000 outstanding. I expect to be able to have a Â£5000 deposit available which would then take it down to Â£40000.
I earn roughly Â£57000 a year therefore I expect to have no issues paying the mortgage off over 10 - 15 years. However I'd hope to have a mortgage where i can pay this off as soon as possible.
I don't have a great credit score, roughly 650 on experian. This is due to a CCJ from 4 1/2 years ago.
The questions are as follows.
As i have a bad credit score which path should i take to procure a mortgage. Broker or not?
Even though in the mortgage will be for 66% of the value of the property will my credit score affect the deal i can get?
Any advice would be greatly appreciated as I need to decide soon due to the Right to buy finishing in Scotland on August 1st this year. I need to get things moving asap.
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