Terrible time with conflicting info on mortgage

Mortgagecrisis

Bank we currently have a mortgage with wont move it over to new house because we have ccjs about 14k debt in all.

phoned debtline the free one, they said they had never heard of anyone not getting a mortgage with ccjs.

went to an independent finacial advisor he said we had little chance

2 defaults on credit report credit score of 710 (experian)

we have 3 children and currently have a 2 bed house we want to move to a cheaper area and get a bigger house and with the equity pay off our debts.

our biggest worry is we cant stay here as house too small social services will knock on my door because my sons and daughter share. we can't rent as we have been advised to because we would need a large family house and couldn't afford the rent. our mortgage will be small as we have equity to put into a house need 55k ideally and even ay 10% thats half the rental price. its either mortgage or council house !

what can i do ?
or what would you do ? :eek:

camper_1982

before the banking crisis, you would have got a mortgage. Now lenders are really strict and those companies are not lending anymore that would have accepted you.

A broker may be able to advise better who to go with so long as you have a solid case you may get lucky.

VIGILANT22

Debtline said what!....are they mad!!
You'll have to look at an alternative solution with CCJ's and defaults on yr credit file...

dunstonh

phoned debtline the free one, they said they had never heard of anyone not getting a mortgage with ccjs.

That is just crazy. CCJ's are a very common reason for rejection and have been for decades. The debtline is plain wrong.

With CCJs you are not attractive to lenders. Before the recession there was a market for taking on people with bad credit. Now there hardly is at all.

we can't rent as we have been advised to because we would need a large family house and couldn't afford the rent.

If you cant afford the rent then you wont be able to afford the mortgage.

Conrad

Possibly someone like melton BS might accept you and there are others who might, but it really depends on a lot of details, including the circumstances and date of the ccj.

Such lenders have to tread very carefuly so you will need to demonstrate the mortgage will be affordable ongoing.

jamesd

CCJs are a common reason for declining applications or charging more. What you should do is get credit reports for both of you and visit a mortgage broker who can look at the specifics of your individual situation.

If the CCJs are old and you paid them then they may not be a significant barrier. If they are recent, for a lot of money or unsatisfied then they can be a complete bar on getting a mortgage. Your plan to reduce debt, if it includes paying off any unpaid CCJs, may well make the difference to your acceptability.

g_attrill

As an interim, do you have a separate dining/living room you could turn into a bedroom? I am in a 2-bed and it was previously used as a 3-bed like that. (ex-MOD)