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  • FIRST POST
    • nev hallam
    • By nev hallam 10th Sep 17, 6:19 PM
    • 4Posts
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    nev hallam
    To wait or not to wait
    • #1
    • 10th Sep 17, 6:19 PM
    To wait or not to wait 10th Sep 17 at 6:19 PM
    My wife children and I are currently wanting to move house and upsize somewhat, my credit score seems OK and I've been told I'd have a good chance of a high street mortgage deal.
    However my wife's credit rating isn't great, this is because she had a CCJ 5 years ago which was settled last year. The annoying thing is, other than this I don't think her credit is too bad, as in she never misses her mortgage payments and is on time with everything payment wise, our mortgage advisor says its whats stopping us getting a better deal.
    I know the CCJ will be remove entirely in Oct 2018 but until then its there.
    We've been informed by a mortgage advisor we could borrow what we need at a rate of 3.5% which he thought was ok seeing as the CCJ was there, however if we wait a year i'm sure we could get a lower rate below 2%, as long as interest rates remain the same.

    I was curious to know if there was anything we could do to remove the CCJ a year early?
    Hmm, decisions decisions, what to do? Any advice welcomed.
Page 1
    • ACG
    • By ACG 10th Sep 17, 7:27 PM
    • 15,771 Posts
    • 8,068 Thanks
    ACG
    • #2
    • 10th Sep 17, 7:27 PM
    • #2
    • 10th Sep 17, 7:27 PM
    Percentage wise, how much is your deposit?

    You can not get a CCJ removed early.

    In terms of what I would do, it would depend - are you renting? Do you think house prices will rise?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • nev hallam
    • By nev hallam 10th Sep 17, 7:57 PM
    • 4 Posts
    • 0 Thanks
    nev hallam
    • #3
    • 10th Sep 17, 7:57 PM
    • #3
    • 10th Sep 17, 7:57 PM
    We've had a mortgage for 10 years and have about 90k equity, im going to guess house prices won't move too much in a year however interest rates may move early or midway next year, in my opinion.

    I'm thinking possibly take the mortgage on the 2 yr fixed that was offered and swap for a better deal afterwards when the CCJ has gone.
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