First Home Loan

[kristy_lily]

Hi,

My DP and I are looking at buying our first home but we have no savings history and don't know if it's possible to get a loan without a deposit.

DP works full-time but has only been in his current job for 3 months and we are both entitled to the first home owners grant.

Our biggest problem is we both have a bad credit history and didn't know how that will affect our chances. We have been told that some companies will lend the money for a house even if you have bad credit.

We have found a house that we like but it needs some work doing to it but DP was thinking we could borrow extra to do those things needed.

Neither of us have credit cards and we are trying to fix up our bad credit.

Thanks,
Kristy

[andie_pandie]

Hi Kristy

There are a couple of banks whom you can get no deposit home loans with who also are fine with short employment, however unfortuately these bank also require clear credit.

The companies whom do offer finance with credit history problems do require some form of deposit and the amount depends on the history etc.

I will send you a PM to discuss further, hopefully I will be able to steer you in the right direction for a positive outcome for you both.

Regards Andrea