Mortgage Chances With a CCJ?

LockedOut

Hi everyone,

Can you let me know what you think of my chances of getting a mortgage in this situation? I have a large deposit and an otherwise good credit rating, but do have a mortgage-related CCJ against me.

The good stuff:
Purchase price £210k
15% LTV - £30k mortgage required
Salary £40k
Experian score 962

The bad stuff:
The CCJ is a possession order for non-payment of a mortgage dating from Nov 2011. That house was sold and the mortgage redeemed within the 28 day period.

The background to this is a long story but essentially my ex had sole occupancy of the property after I had left, but refused to either pay anything towards the mortgage or consent to a sale. After paying thousands on litigation with no result, my only option was to stop paying the mortgage and wait for the bank to start repo proceedings to force a sale.

I have been to a broker who has drawn a blank and also tried HSBC/First Direct without success.

Thanks in advance

Angry_Bear

LockedOut wrote: »

The CCJ is a possession order for non-payment of a mortgage dating from Nov 2011. That house was sold and the mortgage redeemed within the 28 day period.

I may be wrong on this but I thought if you paid a CCJ in full within 28 days of it being issued then it was completely wiped (as if it never happened). In which case you just need to get a letter with the date of mortgage redemption from the bank and send that on to the registry trust.

Edit: although you probably still shouldn't apply to the same bank as before - I have no idea how long they would keep such information on file for

LockedOut

Thanks AB

Looking back, the possession order was for 56 days rather than 28 days to allow for the sale to complete before repo. That was on 9th Nov and completion was on 16th Dec, so the debt was cleared over a month after the order was granted. It looks like that the fact it was over a month afterwards is the problem.

Dave_Ham

Sorry I saw this thread earlier and meant to reply but got caught up with clients and only just noticed again.

I would be confident of achieving a mortgage on this, subject to a bit of proof that the litigation/ex side of the deal - you are only after £30k after all.

HSBC was never ever going to work unfortunately, but I think their would be lenders who would be sympathetic to your plight and after all it is super low risk.

It would need to be packaged and presented appropriately, how much was the CCJ for and assume in joint names?

LockedOut

The CCJ was for £93.5k and that mortgage/CCJ was in joint names.

Is it worth going to another broker?

Thanks

Dave_Ham

It will all come down to the broker-lender relationship and whether the broker can get the lender to look at this manually.

Essentially need a semi-decision maker to look at the whole picture and not just a huge CCJ and very recent.

There are already many things in your favour. Additionally do you have pre-CCJ credit cards, loans or HP?

This will additionally help build a picture of this as an isolated incident, rather than consistent disregard for lender agreements.

LockedOut

I've not had any loans or HP, but do have 2 credit cards that I use and pay off in full every month.

Thanks for the info - it sounds like a broker with a different approach may be able to help.

Dave_Ham

Quite possibly, I wish you well - please do keep us updated ad will help where we can

Simon_gloster

LockedOut wrote: »

The CCJ was for £93.5k and that mortgage/CCJ was in joint names.

Is it worth going to another broker?

Thanks

If only GMAC were around. 1 CCJ, wonderful LTV, employed....you' get a half decent rate 'in the day'.

Do let us know if you get a deal and who with. All the best.

Thrugelmir

LockedOut wrote: »

The background to this is a long story but essentially my ex had sole occupancy of the property after I had left, but refused to either pay anything towards the mortgage or consent to a sale. After paying thousands on litigation with no result, my only option was to stop paying the mortgage and wait for the bank to start repo proceedings to force a sale.

The problem is that this this isn't on public record. Just the default. So lenders take the conservative view. Rather than speculate on whether you are a good risk or not.

Try a small building society where humans not computers do the underwriting.

LockedOut

Thanks everyone - I'll let you know how I get on.