What are our mortgage chances?

Dave_Ham

Depending upon property price and any other financial commitments she may have; you could potentially get a mortgage of upto £170k + obviously deposit.

The funds from family member would need to be a gift though, to satisfy every lender.

Hope this gives you some options..

Chocolate_Lake

Dave_Ham wrote: »

Depending upon property price and any other financial commitments she may have; you could potentially get a mortgage of upto £170k + obviously deposit.

The funds from family member would need to be a gift though, to satisfy every lender.

Hope this gives you some options..

That is incredibly helpful Dave, thank very much mate:T

Still can't get my head around the fact that there are lenders advertising mortgages if you have a CCJ, but a default is deemed worse...:o Surely you have to have defaults 'before' you get a CCJ??

GMS

Chocolate_Lake wrote: »

That is incredibly helpful Dave, thank very much mate:T

Still can't get my head around the fact that there are lenders advertising mortgages if you have a CCJ, but a default is deemed worse...:o Surely you have to have defaults 'before' you get a CCJ??

Who said a default was worse?

Chocolate_Lake

GMS wrote: »

Who said a default was worse?

Directly? nobody.

But I see mortgages advertised for folk with CCJ's and yet the feed back I am picking up is that it will be nigh on impossible with defaults..:o

GMS

Which lender have you seen advertising mortgages for people with CCJ's? Or do you mean broker adverts?

Neither are helpful in the current climate. Not much appetite for lending to people with adverse credit.

Chocolate_Lake

GMS wrote: »

Which lender have you seen advertising mortgages for people with CCJ's? Or do you mean broker adverts?

Neither are helpful in the current climate. Not much appetite for lending to people with adverse credit.

A few really, just typed 'bad credit mortgages' into Google..

I was quite surprised to see any offerings at all to be honest, due to the state of current financial affairs in the UK, but they are advertised out there.

Dave_Ham

Ok, the issue here is slightly misrepresented.

Having the default is not a dealbreaker in itself, but having not satisfied it and having not saved your own deposit is.

I deal almost exclusively in the adverse mortgage market, however in your circumstances getting a mortgage in your Wife's name only will be easier and almost definitely cheaper.

If you could get a sub prime/adverse mortgage via a google advertised broker you would pay the broker £2k to £3k typically and receive a product with high product fee and high rates of interest - and a big if

I wish you well though, if you go down the Google adverse route do ensure they are directly the broker and regulated and not passing on your sold information. Ensure any upfront fees are refundable should you not get the mortgage offered..

All the best