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    • civil12345
    • By civil12345 12th Oct 17, 4:22 PM
    • 134Posts
    • 7Thanks
    civil12345
    Bad credit mortgage
    • #1
    • 12th Oct 17, 4:22 PM
    Bad credit mortgage 12th Oct 17 at 4:22 PM
    Hi, I'm trying to find out about bad credit mortgages. I have a CCJ and several defaults. Is it possible to get a motgage at a bad rate for a few years then something mainstream when my credit is ok? I know this is a big topic but just looking to get started.
Page 1
    • kingstreet
    • By kingstreet 12th Oct 17, 4:26 PM
    • 32,061 Posts
    • 17,159 Thanks
    kingstreet
    • #2
    • 12th Oct 17, 4:26 PM
    • #2
    • 12th Oct 17, 4:26 PM
    Possibly.

    Age of adverse and amount of deposit/loan to value percentage will determine the outcome and rates available.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • ACG
    • By ACG 12th Oct 17, 4:29 PM
    • 15,497 Posts
    • 7,851 Thanks
    ACG
    • #3
    • 12th Oct 17, 4:29 PM
    • #3
    • 12th Oct 17, 4:29 PM
    The date the defaults/CCJs were registered is the big one.
    Size of the deposit (as a percentage of the purchase price) is the other big question.

    If you can answer those, we can give you a fairly accurate idea.
    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.
    • civil12345
    • By civil12345 12th Oct 17, 4:30 PM
    • 134 Posts
    • 7 Thanks
    civil12345
    • #4
    • 12th Oct 17, 4:30 PM
    • #4
    • 12th Oct 17, 4:30 PM
    I was looking at the middle of next year. Most defaults 2012-14 with CCJ 2015. Deposit around £15k and value around £100-125k. Where can I go to even find out if it's going to be an option?
    • ACG
    • By ACG 12th Oct 17, 5:13 PM
    • 15,497 Posts
    • 7,851 Thanks
    ACG
    • #5
    • 12th Oct 17, 5:13 PM
    • #5
    • 12th Oct 17, 5:13 PM
    You should have options from what you have said.
    Possibly high street, possibly a little above. That will come down to the finer details.

    I would get your credit reports infront of an experienced broker.
    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.
    • civil12345
    • By civil12345 12th Oct 17, 5:16 PM
    • 134 Posts
    • 7 Thanks
    civil12345
    • #6
    • 12th Oct 17, 5:16 PM
    • #6
    • 12th Oct 17, 5:16 PM
    OK that's really helpful. I guess there isn't a price comparison type site that would be good for this?!
    • ACG
    • By ACG 12th Oct 17, 5:42 PM
    • 15,497 Posts
    • 7,851 Thanks
    ACG
    • #7
    • 12th Oct 17, 5:42 PM
    • #7
    • 12th Oct 17, 5:42 PM
    Not really, this is not your cheapest deal gets the business kind of case.
    I would say if you work on the basis of a rate of 3%, you are probably not going to be a million miles out.

    But again, that is only based on limited information.
    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.
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