Not the best credit and need a mortgage....help!

jubilee252

Hi,

We are first time buyers and are looking to buy our first property which we have seen and made an offer on, the trouble is, on getting my credit report I have 2 CCJ's from 2008 that, in all fairness, I ignored at the time. Obviously this is now preventing us from getting a High St. mortgage despite the fact that we have a 25% deposit.
I wondered if anyone could advise us on companies that may be able to help or have any advice on what to do next? I am desperate to buy the house we've seen but need to know if it's a reality before I can even begin to get excited!

Thanks.

_Andy_

How much were the CCJs for?
are they satisfied?
Basic advice - speak to a whole of market broker - high street lenders aren't going to be interested.

VIGILANT22

You will not qualify at this moment in time for a mortgage.....

Ignoring CCJ's in 2008 but want amortgage now.....doesn't work like that

jubilee252

Andy, the CCJ's are for a total of £500 and thanks for the help, at least I have a starting point now.

Vigilant22, I asked for advice not judgement, I already have enough of those.....

jenny_13

Few other questions

Are the CCJs now settled?
Do you have anyother debts?
What income multiples are you looking at?

Unfortunately Vigilant22 could be right.

VIGILANT22

jubilee252 wrote: »

Vigilant22, I asked for advice not judgement, I already have enough of those.....

It's not judgement it's FACT....Your credit history is a releflection of how you conduct your credit........default deliquency etc......18 months ago it wasn't important to you to pay those you owed money to....Do you understand the state of the economy at the moment

Now maybe you think this is harsh.....but I imagine the people you owed money to in 2008 felt pretty much the same.......

herbiesjp

The size of the CCJs could fit inside the criteria of some lenders.

Along with the 25% you may be able to get something agreed.

However it really will depend on who the CCJs are with, the reason for them, along with being able to put the rest of your details in the best possible light to the lender.

You would really need to get an adviser involved in this, as a good whole of market adviser would discuss first with the lender/underwriter to make as much as possible the lender would entertain your application.

donna_duck

Try Santander,we have had bad credit history and have a 5year old default and ccj.We have worked hard to try and better our credit history over the last few years.They accepted us to remortgage our house so it's worth enquiring.

herbiesjp

Whatever you do, if you do go direct, do not let them credit score you until who have discussed your case with them - as if they credit score you, and then decline you, this extra credit score footprint could hinder applications with lenders that would otherwise be ok with your credit history.

sandrad44

I understand that small ccj's may be accepted , we have a debt plan running ( debt arrangement scheme ) in scotland. This has been running smoothly for 2 years reducing the debt. Will this make obtaining a re mortgage harder ?

herbiesjp

sandrad44 wrote: »

I understand that small ccj's may be accepted , we have a debt plan running ( debt arrangement scheme ) in scotland. This has been running smoothly for 2 years reducing the debt. Will this make obtaining a re mortgage harder ?

Yes - it will make it harder.

It will depend on the whole scenario though as to whether or not you have any options available