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mortgage help

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gwynne***
gwynne*** Posts: 5 Forumite
in Mortgages & endowments
Hi, new to the forum so hope someone can help.

We owe £20,000 on our mortgage and our house is worth £100,000, we have 1/3 share of a house from inheritance which we will receive min £30,000, it is for sale and has been for over a year, We want to move to a nicer house after paying off the debt, but inheritance house is not selling.
We are with ccs and got just over £6000 left to pay with 1 ccj in 2007, we got a £16,000 loan too.
So my question is with so much equity tied up in our properties is there a way we could lend more on a mortgage as we are black listed and cant even get a overdraught.
We have really liked a house and afraid in case it sells but my husband wont do anything until we receive the money from the inheritance house. It feels that it will never sell at the moment.
any help appreciated.

Comments

  • ACG
    ACG Posts: 24,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Need a little more info:
    Just to clarify the numbers..
    £100k house - £20k outstanding
    £6k debt outstanding
    £16k loan outstanding
    Should receive £30k soon?

    How much do you both earn?
    How much is the property you are looking to purchase?

    If im being honest with the ccj not being satisfied yet its probably unlikely...however if the property is valued at around £130k then you might be able to port your existing mortgage and use the money you will receive to purchase the new property?
    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.
  • gwynne***
    gwynne*** Posts: 5 Forumite
    we earn £40,000 between us the property we want is £149, 000 ono, i feel so frustrated that if it wasn't for the ccj we could buy it, just wondering if there is anything we can do as only ever bought one house so not much knowledge on mortgages etc.
    thanks
  • gingeralan
    gingeralan Posts: 224 Forumite
    Eighth Anniversary 100 Posts Combo Breaker
    gwynne*** wrote: »
    we earn £40,000 between us the property we want is £149, 000 ono, i feel so frustrated that if it wasn't for the ccj we could buy it, just wondering if there is anything we can do as only ever bought one house so not much knowledge on mortgages etc.
    thanks

    If you can't get an overdraft then I would have thought a mortgage was out of the question. Don't fall in love with houses too quickly.
  • gwynne***
    gwynne*** Posts: 5 Forumite
    Thanks for reply will just have to wait till the inheritance house sells.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Sorry it was not clear, have you settled the CCJ?
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • gwynne***
    gwynne*** Posts: 5 Forumite
    no, waiting for the house to sell and then settle it
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    At which point OH is right, get the inheritance and settle the CCJ and then get some decent advice...

    I wish you well...
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • gwynne***
    gwynne*** Posts: 5 Forumite
    Thanks, thought i would get more info here and i did, thanks again.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    gwynne*** wrote: »
    no, waiting for the house to sell and then settle it

    When you receive the inheritance. Clear your debts and start saving.
    As be a while before mainstream lenders will consider you for a mortgage.
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