Seeking Advice on Bad Credit Mortgage Advisors

Hello everyone,

I hope this message finds you well. I am reaching out to seek your advice and recommendations for a reputable whole market mortgage advisor. Specifically, I am in search of someone who has significant experience in dealing with mortgages for individuals with bad credit situations.

Background Information

To provide some context, my partner has a remarkable credit score, which is certainly beneficial. However, my credit history tells a different story. I have a default on my record from five years ago, and unfortunately, I’ve also had a couple of late payments that were recorded earlier this year in January. Despite these setbacks, we are both excited about the prospect of buying our first home together. It is crucial for us to ensure that we receive the best possible advice tailored to our unique financial circumstances.

Currently, our combined annual income stands at £59,000, and we have managed to save a deposit of £20,000 for our home purchase. We are targeting properties with a value ranging between £285,000 and £295,000. Additionally, in our discussions with the developer, we learned about a 5% contribution they are offering, yet we are uncertain whether this contribution can be included as part of our deposit when we approach a mortgage lender. This uncertainty adds to our challenges in navigating the mortgage landscape.

Request for Recommendations

I am eager to hear from anyone within this community who has had similar experiences or who can recommend mortgage advisors who are particularly adept at handling situations like ours. Any general advice on how to move forward in our mortgage application process would also be greatly appreciated. We are feeling somewhat overwhelmed by the complexities of our situation and sincerely want to ensure that we are making the right decisions from the outset.

How AI Legalese Decoder Can Help

In addition to seeking recommendations, I want to introduce the AI Legalese Decoder, a helpful tool that can assist in demystifying the complexities of mortgage agreements and legal documents we may encounter along the way. This tool can simplify jargon-laden terms, clarifying what each clause means in layman’s terms, making it accessible for people like us who may not be familiar with the legalities involved in mortgage contracts.

This resource can be particularly beneficial for understanding how a developer’s contribution works in relation to our deposit and how it influences our mortgage application. With the AI Legalese Decoder, we can ensure that we are fully informed and able to make educated decisions as we proceed.

Thank you all in advance for your valuable insights and recommendations! I genuinely appreciate any assistance you can provide.

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