mortgage help needed, ccj from 2002

dotty_totty

Hi
As stated above we have a ccj that was issued (unknowns to us) in January 2002, for £1022. We were totally unaware of this until we tried to remortgage in 2006. We paid the money and got a letter of satisfication from the court, and the Chelsea remortgaged our property for us.

Fast foward to today, for the previous two and a half years we have been overpaying our mortgage and have never missed a penny to our small credit card debt.

We have now decided to move house and have applied to the chelsea to increase our mortgage (as we have an ERC of £3000) to allow us to do so.

Ive just recieved a phone call from the chelsea saying that the underwriters have refused our application based on this ccj, stating that their lending criteria has now changed and they are no longer in the position to offer us further lending. :mad:

Please, if anyone has any help as to were we turn next, we would be most grateful. I feel as if i dont know where to turn, where to look next as i dont want us to start applying nilly-willy and wrecking our credit report!

TIA
x

Leon_W

Surely the CCJ would not be on your credit file now (after 6 years) ?

Or are The Chelsea saying that even though the CCJ is not on your file now, we knew you had one in 2002 and that is why we wont lend ?

dotty_totty

Leon, just got off the phone to them again, and basically their criteria, which changed 12 months ago, is now - if you have a ccj of £250 or more settled or not, regardless of how long ago, you will be declined!!

Any idea's of who to look at now?

herbiesjp

Plenty other lender should be able to help as long as it is over 6 years old

It will depend on the whole scenario though i.e. LTV etc.

dotty_totty

We have a deposit of £50k and looking at borrowing £135, 000, any tips?

herbiesjp

Under 65% LTV you should be able to look down the high street

Word of caution on the CCJ front though - get a copy of your credit file and show to whoever you are applying to BEFORE they do a credit search, to see if you fall outside criteria first

If you do not feel brave enough to go it alone, then get a broker to help you out.

dotty_totty

We have done a full experian sarch and the ccj isnt coming up, do we not admit it on our application form because it isnt showing, or be honest in case they have the ability to go further back than we can?

herbiesjp

It depends on what the lender asks on the application form - but NEVER withhold information if it is requested

Again, a broker would be able to discuss verbally with a lender, to see what they would want and how best to place your application