Complicated re-mortgage - is there any hope?

CC_Scot

Hi

I am sure this has been asked on plenty of other occassions but each case is individual so I thought it may be worth giving my details.

We currently have a mortgage of £46k - house is worth around £130k.

we were sequestrated in Aug 2005 (long story but are back on track now), discharged August 2008.

When we were sequestrated my mother in law gave us the funds to buy out the equity in our property and we would now like to raise extra cash against our property to repay her.

My income is £30k and my partner has a small PT job paying £3.5k pa.

We have no loans and each of us has a credit card which is repaid in full every month.

Never any arrears on the mortgage we currently have.

Our credit files do not show our sequestrations and all the defaults show as satisfied.

We do have two CCJs (one is 2004 and the other is 2005) which still show as outstanding (although these were included in the sequestration) and have been advised that these can not be shown as satisfied with the CRAs but have a letter each advising that we are no longer being pursued for this debt.

We want to increase our mortgage to £76k and have 20 years to pay on our existing loan.

My query is , will there be any lenders who would consider us given the CCJs show as unsatisfied?
I have looked on line and there are plenty of companies who promise to find solutions but I am reluctant to try for a new mortgage and end up with dozens of searches on our file.

Is there anyone in a similar position who have been successful in being approved for a loan or am I going to have to wait until the CCJs disappear.

we are on a relatively good rate at the moment ( it is a standard mortgage with a high street lender) so don't want to be charged at too higha rate either. I am hoping that there are lenders who will look at the low LTV, low commitments and good salary multiplier favourably against our credit problems 4/5 years ago.

Any advice appreciated.

CC_Scot

apologies for bumping my own post, but hoping someone can offer some good advice

thanks in anticipation

Mrs_Bumble

Sequestrated is the equivalent of bankruptcy correct?

In which case I don't understand why it doesn't show on your credit file?

For any mortgage application there is a question in relation to bankruptcy and so you are therefore going to have to admit to it.

My usual business is prime and so I am afraid that I am not that up to date with adverse criteria at the moment but anyone will need to know.

How much are the CCJ' for?
How much was the sequestration?
What adverse credit history is showing, just the CCJ's?

getmore4less

Talk to your existing lender and see what they will do.

Why not just start paying her back now monthly or does it need to be a lump sum?