sub prime mortgage

bunny27_2

We currently have a mortgage with redstone, we have never missed a payment on our mortagge or car payments, but have missed payments on credit cards etc, no excuse for it at all.
We have one ccj that was for a water bill at a previous house which is now paid off, although only at the beginning of this year.
We would like to move back to our home city, and need to get another mortgage, we have checked with redstone and they are no longer lending, not even to existing customers. Who out there could be a possibility for us? if anyone.

Dave_Ham

Hi there,

When was the CCJ served and for how much? Appreciate you have only paid it back recently.

When you say missed credit card payments, how many and when (approx.)

What loan to value would you be looking for or what deposit will you have and approx. what range of house pricing?

Sorry for the questions, but to be able to give you an indication will need more information...

bunny27_2

ccj was served july last year i think and for about £400. credit cards end of last year and 3 or 4 missed all back on track now. we will have about 50k deposit and ideally want to spend upto 250k. we have a 188k mortgage now.

The_J

Dave Ham's your man for sub prime but I think you're going to struggle.

Dave_Ham

The combination of the 2 factors of card payments and the CCJ together make this incredibly difficult.

Was the CCJ and cards in joint names or just in one name?

Assuming when you say we, you mean more than 1 adult in the family...

I assume your incomes are also above average given the potential loan size...?

bunny27_2

the mortgage is just in my husbands name, the ccj and credit card payments missed are in my name, although dont they do a search me too when my husband will be applying for a mortgage? husband ears 48k i earn part time 8k, no idea if this is above or below average.

To be honest our financial situtation was a lot worse in 2008 when we got this mortgage for 188k, but I know things have changed now.

Dave_Ham

Things have obviously changed dramatically, I cannot see past doing it in hubby's name again.

Some lenders assess him as an individual and some together. Would suggest you hunt down a decent broker though as you will need this pieced together and income will be a stretch...

Depending on other unknown variables, would expect a high street lender to be accessible..

The_J

If your husband is completely clear then you should certainly go in his name only.

Avoid Natwest.

bunny27_2

Thanks for your help, one last question if I may? where do I find a 'decent broker'?
Is there a website that lists them?

bunny27_2

The_J wrote: »

If your husband is completely clear then you should certainly go in his name only.

Avoid Natwest.

Really dont mind it being in his name only, not bothered by that at all.

Dave_Ham

Good call J - Natwest do definitely link you.

I would always suggest you try and take a recommendation from friends or family, as you will know what you are getting.

Google can be dangerous as it brings up the big players who spend big on advertising and I always think the service you receive is only as good as the individual who picks up the phone, rather than the smaller company (I am probably biased)

Use this forum to ask any questions, for example a broker that suggests Natwest or Accord would be kicked straight out of the door...

Most brokers will have a free initial consulation also, so just meet them and take a view if you feel confident and comfortable.

I wish you well...