Mortgage worries

sparky23

Hello there, im looking for some advice please.

Our motgage came off a fixed rate in January and we have since been turned down for another. Reason being is I have a CCJ on my credit file (it shows as satisfied) this will remain until 2010.

We also have a self cert mortgage and would need the same agian, anyone any ideas on how to get round this??

Many thanks

luckyfool

Will your existing lender offer you a new deal?

How much do you want to borrow, and how much is your property worth?

When was the ccj satisfied (presumably it was registered in 2004), and how much was it for?

_Andy_

Also why do you feel you need to self-cert? Can you prove your income?

sparky23

Hi Sorry for taking so long to reply.

Our property is worth £110,000 and our mortgage is for £73,000

Our existing lender says we are now on there best deal which I think is crazy - its with Birmingham Midshires.

The CCJ was satisfied in 2004 when I got it.

Thanks

_Andy_

Why do you feel you need to self-cert though?

sparky23

My partner has recently became self employed and dosent have 1 year accounts and our mortgage broker last time said it would be easier to self cert for both of us? Thought she would know best, even though I have been in my job for 6 years on a permanent contract.

Do you know of any companies offering good deals on self cert mortgages at the moment?

_Andy_

What's your income? (If it's high enough you could get a regular mortgage just using that).
Self-cert rates aren't going to be great - has your broker actually compared them with what BM would offer you (and also taking into account any exit fees and set up fees)?

sparky23

Thanks Andy,

My income is quite low - £10,000 pa. We would have to pay an exit fee of £250, unsure about set up fees as broker says no company will give us mortgage until 2010 due to CCJ?

BM say we are on there only and best deal - variable rate of £570 pcm

Unsure if im so happy with broker as I know she has told some white lies in last application? but dont want to start applying for other mortgages and damaging credit file further.

Feel really trapped, catch 22.

Logging off the now but will read your reply tomorrow, thanks again

_Andy_

'White lies' - no such thing - if the application had lies in it then it was fraudulent.

arkie

and if you signed the mortgage application, signed the offer YOU committed mortgage fraud, be careful about saying your broker told white lies