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Mortgage and CCJ Question
Peasoup
Posts: 12 Forumite
Hello, I have a CCJ that will be wiped off my credit rating in Jan 2013. I would like to apply for a mortgage now as I have seen the perfect house for me and my partner. Does anyone have any experiences or ideas as to whether or not I might be successful in the application?
- The house is £130,000
- I have a perfect credit score apart from the one CCJ for 2k which will be removed in Jan 2013
- Me and my girlfriend have a combined salary of £42,000
- We are first time buyers currently renting and my girlfriends credit rating is excellent.
- we have enough saved for the minimum deposit.
I know people will say wait until January but I really do not want to miss this opportunity and I have spent many days contemplating the decision.
Thank you
- The house is £130,000
- I have a perfect credit score apart from the one CCJ for 2k which will be removed in Jan 2013
- Me and my girlfriend have a combined salary of £42,000
- We are first time buyers currently renting and my girlfriends credit rating is excellent.
- we have enough saved for the minimum deposit.
I know people will say wait until January but I really do not want to miss this opportunity and I have spent many days contemplating the decision.
Thank you
0
Comments
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Was the CCJ satisfied?0
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No it hasn't been satisfied. Will this have an impact?0
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How much was the CCJ for and what % deposit do you have?I am a Mortgage AdviserYou 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.0
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Assuming it has gone down because you have been paying it off in installments?
In this case it is likely to be all over your credit file?
Obtain your Experian, Equifax and Call Credit reports (just the £2 ones) and put them in front of a decent broker.
How is your income split? Could you buy in OH name only?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.0 -
Yes I have been paying it off on a regular basis. The mortgage would have to be in both names as her wage is only £20000.
What do you think are my chances of getting a mortgage. Will they take into account that the CCJ will be wiped from my file in January and I have an excellent rating apart from the CCJ?0 -
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Problem is it is going to be all over your credit file. This could be mitigated with a bigger % deposit although not at 90%
You are going to need to attack a Building Society in my opinion, as they wilol manually underwrite through last 3 months bank statements.
As I said, there is unlikely to be a straight answer; get the credit files to a broker or do some serious research online on Building Societies, especially ones local to youI 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.0 -
Thank you Dave, good advice.0
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