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Advice Needed

Cookie1175
Cookie1175 Posts: 3 Newbie
in Mortgages & endowments
Hi Guys

I am looking for a bit of advice on buying a new build home.

I have currently got no current defaults on my file but i have two CCJs one which is paid and the other i am paying off monthly. I have approx £20k i equity in the house and will use this as deposit for the new build. Is it more difficult to get a mortgage on a new build home than a "older" house ?

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    It's difficult to get a mortgage.

    It's more difficult to get a mortgage on a new build home.

    It's even more difficult to get a mortgage with a deposit of less than 15%.

    It's virtually impossible to get a mortgage with 2 CCJs on your credit file.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    opinions4u wrote: »
    It's difficult to get a mortgage.

    It's more difficult to get a mortgage on a new build home.

    It's even more difficult to get a mortgage with a deposit of less than 15%.

    It's virtually impossible to get a mortgage with 2 CCJs on your credit file.

    But other than that, any problems you can see? :)
  • betmunch
    betmunch Posts: 3,126 Forumite
    Deleted_User wrote: »
    But other than that, any problems you can see? :)

    Getting a surveyor to agree the sale price is the same as the market value!

    Surely that has to be all though?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    betmunch wrote: »
    Getting a surveyor to agree the sale price is the same as the market value!

    Surely that has to be all though?

    Selling the current place and actualy realising £20k spare

    now that has got to be all though.
  • betmunch
    betmunch Posts: 3,126 Forumite
    good spot!
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
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