Mortgage..bad credit rating etc

lovesabargain123

Hiya
We have had a mortgage for 15yrs now, and in the last few years we have had it go to court a couple of times and had to make a payment arrangement etc
We are with GE money at the moment and in March the added the arrears on to the the mortgage so we are now completely up to date.

We have also had a couple of CCJs over the last 5 years but again these have all been paid off and we have no outstanding debt,I think we owe max £1000 on various catalogues but no loans etc

Anyway,we would quite like to move so I rang GEmoney to see if we would be able to get a new mortgage but they said they don't deal with new claim and you have to go through a brooker and there are various ones stated on their website.

We haven't looked at houses or put ours on the market but I want to know if anywhere will give us a yes or no as to weather we would actually get another mortgage (we have about £30,000 equity in this house and would maybe like to borrow about £20,000 more than our mortgage is now)

Can anyone recommend any site for me to go to or company's to get in touch with who may be able to help us.

I rang Norton Finance (who is listed on gemoney) but until we had put an offer in for a house they wouldn't look at it..but I don't want to waste ours or a sellers time by viewing and putting offers in if we can't actually get another mortgage

Many Thanks for any advice

izools

What purchase price are you looking at for your next home?

Thrugelmir

lovesabargain123 wrote: »

We are with GE money at the moment and in March the added the arrears on to the the mortgage so we are now completely up to date.

Consolidation of arrears means that the original debt was not paid on the due date and is merely being paid off over the remaining term of the mortgage. Your credit file would have been flagged for the months you are in arrears.

The CCJ's will greatly restrict your options as well when it comes to remortgaging.

In the short term focus on keeping your personal financial affairs in order. Perhaps considering increasing you current mortgage repayments to accelerate payment of the debt. As it seems now you are in a position to afford a larger house while only a couple of months ago you were struggling to pay on time.

lovesabargain123

Thanks,the house we have seen is on the market for £160,000 our house will probably sell for about £145,000 and we have a mortgage of £115,000 (ish)

When we consolidated the mortgage the advisor said the arrears have all been cleared and we were now out of the red so to speak.

the last time it went to court was about 2-3years ago and although we have had ate payments they have always been made within the week iykwim

However I now have a job and my husband (who works for the council) has had a pretty good wage rise

thansk again