Can i get a new mortgage?

asp746

i've decided to sell the house i shared with an ex. the problem is i'm wondering if the company i'm with will lend me more money as i'm wanting a bigger house. My situ is this:

approx 80k equity in house
want to lend 40k

My circs are this: 1 x ccj which is due to expire in august
1 x hp for a car which is 230 per mth & which is due to expire oct
1 x credit card with 1k limit on it.

i have no other debts, i earn 23k pa and i have been with santander for 14 years and never missed any payments.

i'm just worried about the ccj making me unable to get a a mortgage.

getmore4less

How big is your current mortgage?

do you have to pay the ex anything?

How much savings do you have to pay for the move costs?

asp746

current mort is 25k, i don't need to pay anything to the ex and moving costs i've got sorted - i live minimalist so a few mates and a whitevan will do the job.

i just wan to know that despite the ccj i'd be elligible for one of the deals that's around at the moment - having said that the house may take a while to sell by which time the ccj will have dropped off my credit report.

asp746

update: saw mortgage advisor yesterday, santander don't times your salary x 3 anymore to work out if you can afford it, they do it by seeing how many dependants you have.

i qualify for 59k plus i have a big deposit so i'm fine for moving on. he also did a credit check which came back fine even tho i have the ccj on it - he reckoned cos its due to expire in august anyway and the amount it was for will have no bearing on things.

one stumbling block tho is i have a 227 carloan per month and because of that its eating into a lot of my ability to pay a bigger mort ie, at this moment in time i can only borrow 60k but, if i didn't have the 227 per month loan i could borrow up to about 85k!! the loan's only got 10 payments left on it so i'm gonna try and blitz it. ideally i need to lend 70k.

smitchy73

asp746, as for the car loan, is it a loan or is it HP, whatever it is get a settlement figure then you can check the sums yourself to see if it's affordable to repay in full or just leave the payments, you should be due a rebate of some sort on the interest on the loan if you repay early.

asp746

it's hp and the balance at the mo is £2,367 so there's no way of settling it at the mo - maybe when the balance is down to £500 i could.

the mort advisor was suggesting i use some of my equity to pay it off - but i said no way. i'm sure the house'll take at least 10mths to sell by which time the hp will be finished anyway and also he didn't take into account the 5k that the endowment is currently worth.

having a ccj has cost me a fortune - anyone reading this avoid getting into debt at all costs and if you do, get payment plans and stick to them as a ccj is a milstone round your neck for six years.