Buying my husband out - CCJ problem

Hoonay

Hello,

I have had a joint mortgage with my husband for 7 years. We have just separated and I am planning to buy him out. I have spoken several times with a mortgage broker and he has made some basic queries with my current lender. I can potentially be lent enough money (based on my income) to do this.

I got a copy of my credit report and it was all gleaming except for the shock news that there is a CCJ on there from February 2005 which I had no idea about. At the time, my husband was having cancer treatment. It was such a traumatic time that I honestly can't remember anything about this outstanding amount or any court letters etc. I have contacted the relevant party and have paid it off. I am waiting for my letter of satisfaction so that I can get my credit report amended ASAP.

However, the CCJ sits on my file for 6 years - 1 more year until it goes. My broker thinks this is very bad news and suggests that I sit down with my current lender once I have the letter of satisfaction, new credit report, wage slips etc. He does not think this bodes well at all. Nationwide is the lender and apparently, even though my mortgage track record is faultless, they don't care about personal circumstances etc and tend to go by what their computers will say. The broker also says that there are not that many adverse lenders out there these days either. His advice has actually been great so far but I am very concerned.

Does anyone have any advice on this? Any tips or experiences?

Thank you.

Dan_1976

He could be correct in saying this. It will go against you.

On the plus side, believe it or not underwriters are human, you may be able to explain the situation and provide evidence to back this case up they may look behond the CCJ.

Its clear that at the time of the CCJ money, mortgages and debt meant very little and you had more important things to worry about.

I hope this works out for you, good luck and let us know.

Ps. It may be better coming from you and not via your broker, suggest to your broker that you put it in writing your self.

VIGILANT22

You're broker is spot on....follow their advice