Mortgage with ccj's

Dee_Cee

My wife and I took out a seven year mortgage in 2005, six and a half years ago. We are now in the process of having to find a new mortgage.
The problem is, in 2010 when we started to look at a new mortgage, it transpires that we had three large ccj's against us with default dates of Sep 2006 - March 2007.
We paid them off in Sep 2010, but they are now on our credit report as defaults.

We have a very good broker who is going to help us, but I need to know if it is possible to actually get a mortgage in this climate and if anyone here has experienced anything like this.

We have around 60k equity, we earn good money and have never missed a mortgage payment. But our origional lender won't extend the terms and I'm very worried about the future of our home.

Please, if anyone can offer any advise I'd be very grateful,
Thankyou in advance,
Dan.

ACG

60k equity - what percentage of a purchase price would that be?

How much are the defaults for and how many are there?

Dee_Cee

Thanks v much for the post.
Our house is worth around £190,000, the current mortgage is £121,000.

There were four defaults, amounting to £21,000.

The deafults were in 2007, not the 90's as stated. They will anoyingly be taken off our report in March 2013, five months after the mortgage ends. They were all cleared in 2010.

Thanks again for post's,
Dan.

ACG

If im being honest those defaults are a lot higher than anything ive seen so honestly, without researching i wouldnt know whether there would be any lenders out there.

The fact they are 5 years old makes me think so long as you credit score has improved there will be some lenders out there willing to accept you. Im sure your advisor will find something though, a lot of lenders accept bankrupts after 5 years so i suspect you should be ok, as you have atleast satisfied your debts.

Dee_Cee

Thanks very much for the post, that is very encouraging.
I think a letter along with the application may be a good idea, I'm not entirely convinced the lenders will bother to look at the details on the report and the fact that they are five years old etc, they just see a bid red 'default' and that's that.

I shall post my progress,
Thanks again,
Dan.

Thrugelmir

Dee_Cee wrote: »

I'm not entirely convinced the lenders will bother to look at the details on the report and the fact that they are five years old etc, they just see a bid red 'default' and that's that.

CCJ's are issued for a reason. More often or not as a last resort in an attempt to seek collection of the debt when all avenues have failed. So any lenders would view them very seriously.

DVardysShadow

Thrugelmir wrote: »

CCJ's are issued for a reason. More often or not as a last resort in an attempt to seek collection of the debt when all avenues have failed. So any lenders would view them very seriously.

That is a very moral take on it. Sometimes CCJs arise when creditors send papers to wrong addresses.

Dee Cee, did you know about these CCJ's being applied for at the time? Sometimes CCJ's can be set aside.

Thrugelmir

DVardysShadow wrote: »

That is a very moral take on it.

Um no. I'm wearing my business hat.

The consumers perception is very different to the lenders or credit providers.

Thrugelmir

DVardysShadow wrote: »

Sometimes CCJs arise when creditors send papers to wrong addresses.

Suggest you thoroughly read on CCJ's and the steps that must be taken before a judge will grant one.

DVardysShadow

Thrugelmir wrote: »

Suggest you thoroughly read on CCJ's and the steps that must be taken before a judge will grant one.

I suggest YOU read and inwardly digest.

http://www.payplan.com/frequently-asked-questions/county-court-judgments.php

The Claimant (the creditor who is taking action against you) will have to apply to the court for a claim form to be issued; this will give all details of the debt.
You will receive a copy of the claim form, which must be stamped by the court. The claim form will detail the amount the creditor has claimed you owe. You will also get a response pack that will include the following forms:

• Defence Form - you should complete this if you disagree with the amount of the claim;
• Admission Form - if you complete this form, you are admitting to owing the full amount claimed.
• Acknowledgment of Service - this form should be completed if you require extra time to complete or defend the claim. This will give you 28 days rather than 14.

You should NEVER IGNORE court paperwork and you must ensure the relevant forms are completed and sent back within 14 days, unless you complete the Acknowledgment of Service, in which case, you will have 28 days. Should you ignore a court summons, the order could be made against you, even if you don't owe the money!
If you agree you owe the money, the court will require your income and expenditure details. The court will then look through these details and apply guidelines to your expenditure and will set the order for the amount you can realistically afford. You are then required to make that payment until the CCJ is paid off.
The courts income and expenditure is very basic. Follow this link for a more detailed and realistic assessment of your finances and to receive online debt advice.

So, if for whatever reason the court papers are ignored, [eg being sent to the wrong address] a default judgement will be granted.

We have had related issues before. You seem to have an idea that anyone who collects a CCJ against their name is automatically in the wrong. This is far from the case.

While it is your choice [from a previous thread] not to do business with anyone who has collected a CCJ, even if paid within the 30 days allowed, you need to accept the following

• A person can collect a CCJ and be completely unaware, particularly if papers were served on a previous address. Yes, the person should notify the creditor of all changes of address, but even where this has been done, the creditor may still have papers served on the wrong address out of malice or incompetence. If the CCJ is given by default against a previous address, credit referencing will usually associate it with the same person at the current address
• Only once a defence is entered does the defendant get a fair hearing - otherwise it is a default judgement and none of the steps you seem to be thinking of actually come into play.
• A person who has collected a CCJ unaware may even not owe anything to the plaintiff

gazfocus

Thrugelmir wrote: »

Suggest you thoroughly read on CCJ's and the steps that must be taken before a judge will grant one.

DVardysShadow is correct actually. A company filed one against me once but they had sent the papers to an old address. After proving that I had given them my new address prior to the papers being issued they had to get the CCJ set aside. I was sent a form by their solicitor to sign and within a few weeks the CCJ was removed by the court.