Bad Credit Mortgage

cassy136

I am looking for some advice.

I have inherited a property and i now own in outright it is approximately worth 100,000 in its current state. I am looking to get a mortgage to renovate the property and I'm not actually sure what i am looking for (1st time Buyer, Remortgage). I am looking to borrow around half the value of the property.

I also do have adverse credit and a recent CCJ because of being made redundant. I am now in a secure job since June 09 earning 15,600 and have been making all repayments. I cant seem to find many companies that can help me.

Is this a lost cause or can anyone suggest someone i could talk to?

Thanks in anticipation

benjaminM

I recently placed a mortgage for client with a poor credit history with Platform. They are pretty good and look at cases on an individual basis. Platform is the intermediary arm of the Co-opertaive. Whether they will be able to help you will obviously depend on your circumstances. You can either go through the co-operative or contact your local mortgage broker. There are possibly other lenders who will take on your case, your local broker might have some suggestions.

Hope this helps

herbiesjp

What date was the CCJ registered and how much was it for?

You would be looking for a re-mortgage on an unencumbered property.

When discussing with your broker have a copy of your credit file to hand.

cassy136

The CCJ was in June this year for 400.89, i have been advised by a broker to clear this which i am now doing how long can it take for a certificate of satisfaction?