bad credit history? I'm hoping to buy my first investment property. I will doing a partnership with my partners father but i have recently found out i have been credit listed for failing to pay a credit card installment on time.
the debt has since been paid so i have no credit cards and my car loan has also been paid off.
my partners father has no bad credit history and owns a house worth $300,000 which has been paid off and he does not have any other loans. we have approx $60,000 deposit. The cost of the investment will be approx $450,000
i would like to know if i will have problems getting the loan due to my bad credit and if not will i still be able to get a loan at a competitive price and not a bad credit loan which usually incurs higher interest rates taking into consideration the joint application, existing house as a guarantor and large deposit
Thanks
the debt has since been paid so i have no credit cards and my car loan has also been paid off.
my partners father has no bad credit history and owns a house worth $300,000 which has been paid off and he does not have any other loans. we have approx $60,000 deposit. The cost of the investment will be approx $450,000
i would like to know if i will have problems getting the loan due to my bad credit and if not will i still be able to get a loan at a competitive price and not a bad credit loan which usually incurs higher interest rates taking into consideration the joint application, existing house as a guarantor and large deposit
Thanks