Wanting to move poor credit history

melie3

hi havent posted in such a long time.

We been living in our home for 17 yrs now, had 3 children in a 2 bedroom house, divided a 12 x 8.5 foot room almost in half so our 14 yr old has her own space away from our 8 and 6 yr old daughters. Had some marital issues earlier on in yr, which neighbours think happy to shout from over the road and know what he has done and happy to tell the world in which im not. Quite had enough, car has had a large rock thrown at it yesterday by a 9 yr old kid who thought it would be funny, weve had it 2 weeks ....
Well weve outgrown the home, the area isnt great, i run a small business sucessfully from here, now i really just want to move.
We have adverse credit, i got a CCJ a few yrs ago now, i originally won a court case from a debt collection company, but their appeal was granted and had the CCJ issued . i havent approached my lender (one account) im not looking to borrow more money, we have almost an 80k mortgage with properties fetching 125k of similar. we have had arrears on mortgage, and been clear for 6 months now, i know we will be laughed at to buy another home, looking at same value or less, in a different area. i dont see weve any options and trapped, either to rent ours out and rent somewhere but with properties going for 800 a month rent, time we pay our £350 mortgage and insurances our property at a letting agency would be up for 650-700 a month, and we struggle sometimes now, so we wouldnt be able to sustain 800 a month rent. Or we sell and rent and use our profit to live on which will eventually run out.... what a position we live in .... whats anyones take on my situation? x

droiderm

I think this would be better posted in the mortgage and endowments forum, as this is probably the main issue.

cramg

These are very strange times we are living in and rest assured you are not the only person in such situation.

Given your current situation and what you have said local houses are selling for, you could be sat on equity anywhere between £35k to £45k so this is something to be proud of. Many people of now are in negative equity and have no options what so ever.

Maybe speak to an IFA, visit some mortgage lenders and advise them of your situation and see how viable moving house really is. The fact you have some good equity in your property will work in your favour and does give you a few options.

kingstreet

Order a copy of your credit file from all three credit reference agencies (the £2 paper ones will suffice) and take them along to a meeting with an independent or whole market broker.

You'll need the equity from your home for the next purchase, so selling is the only real option, unless you can get your hands on a cash deposit from elsewhere.

Equifax

https://www.econsumer.equifax.co.uk/consumer/uk/gb_consumerletter.ehtml

Experian

https://secure.wiseconsumer.uk.experian.com/wiseconsumer/secure_index.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-report-online/index.php?action=register_display&tpl=regPurchase

Fire_Fox

It's worth running an advanced search, these issues have come up many times on MSE. Have you contacted the police about the verbal harassment and the damage to your car? Are you getting the support of your GP with any depression or stress?

So you are not in negative equity? If so sell up, pay off your debts and rent somewhere. Nobody needs to be a homeowner, for those on lower incomes it often causes more problems than it solves. Many people have lost tens of thousands of pounds in the last few years by being homeowner compared with if they had rented.

You may need to move to a cheaper area, perhaps even further north, or claim housing benefit to help with the rent. If you complete a Statement of Affairs the DFW board will help you identify areas of overspending and try the Benefits board for what extra help you might be eligible for as tenants. I really don't think you are in as a bad a position as you imagine yourself to be, most people who are desperate are in terrible negative equity. If you have a One account why haven't you paid your CCJ? If you had done so within a month it would not have been on your record at all.