Can i get a shared mortgage with possible bad credit?

Okay, i'm single and i know i'll never be able to get a house on my own. I need one thats in a ';decent'; area as i work as a police officer - no, there is no housing allowance for cops anymore. So, i decided for the next few years to build up some equity and go for a Newbuild Hombuy. I have found a property that i'm interested in and have reserved it. My problem that i'm facing now is getting a mortgage. I'm worried that i wont be able to get my share of the mortgage (拢60,000 for a 40% share) as i seem to have bad credit (they say i ';dont meet their criteria) - or thats the reason why i can never seem to get a credit card. Yet i have finance on some electricals, pay monthly car insurance, pay monthly rent which i havent missed a payment on any, so how can my credit rating be so bad? About 3 years ago i was paying off a loan, i had to switch the payments to the minimal payments, could this be whats stopping me getting credit cards and a potential mortage. i'm 26, i have no deposit eitherCan i get a shared mortgage with possible bad credit?
Hi ?When considering a mortgage, it is always a good idea to know what your options are. Don檛 jump into anything without first knowing what you are getting yourself into.



If you have bad credit, then you might want to try and work out why this is and what they know about you:



http://www.clickngomortgages.co.uk/bad-credit-mortgage-what-they-know-about-you.asp



Have you got any outstanding debts or CCJs against your name or have you ever been declared bankrupt? They can see your late payments and any problems that you might have had and how you run your account on a day to day basis. If you have paid off any debts, then make sure that these have been wiped from your information as they could still be showing and hindering your opportunities.



Have you ever voted? If you are not on the electoral roll, then they can檛 see where you live or who you live with ?vital information when money is concerned, so get on.



If you are still in the dark, then why not look at ways to improve your credit rating:



* Electoral roll; Get on it!!!



* Credit Application; be careful of applying for loads of credit in a short period of time is detrimental to your credit rating; especially if you keep getting refused credit.



* Credit Rejection - if you're rejected credit once, immediately check the files are correct. Don檛 go to the next lender and get rejected again this will have a downward spiral effect on your credit rating. Ask the lender which credit reference agency it used to assess your info, and then check it.



* Get a 'quotation search' not a 'credit search'. Ask the lender to do a 榪uotation search' and not a 榗redit search'. This means the enquiry won't have a negative impact on your credit score if it is rejected



* Stability - evidence of stability is good. Home owners rather than renters, and those who are employed rather than self-employed, tend to score more highly.



* Bills - Home phones and mobile phones on direct debt and not ';pay as you go'; will build your credit score. So will having utility bills in your name.



* History - being with the same employer, bank and current address for a while all help too - 3 years is normally good.



* Cancel unused credit cards, debts and accounts. Access to too much credit, even if it isn't used, can be a problem.



* Credit cards - No credit history means that it is more difficult for lenders to score you and you're more likely to be rejected. If you have no credit cards apply for one, it builds your credit history. Use it for 6 months to a year, spending a little every month but strictly repay it in full each month, so there's no interest cost.



* Keep up with your payments - make sure you keep up with all your payments and never over stretch yourself financially.



If you still don檛 know, then why not run a credit check on yourself. http://www.clickngomortgages.co.uk/bad-credit-mortgage-check-credit-files.asp

Once you have all of the facts, then it will be clear to you as to whether you can afford a mortgage or not and the best one for you. Good Luck.Can i get a shared mortgage with possible bad credit?
maybe difficult with no deposit and if you do go to one of those companies that deal with high risks you pay extortinate prices .
My advice to you is to wait. There's no rush. Given your current financial situation, I think the worst thing you can do is buy a house.



Instead, take the next two/three years to save some money, pay off your debts and work on qualifying for a credit card. When you get that card, play it religiously.



Don't try to put the cart before the horse- so to speak.
You can get a mortgage but you will probably pay a little more for the first year. preferred offer a subprime mortgage but you can't go to them direct so you should go to a mortgage broker. there is a magazine called on the Ladder which has information. You can download a copy at http://www.ontheladder.net