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First time mortgage with 2 paid off ccj's
mortgagehelp_2
Posts: 5 Forumite
Hi,
I'm looking into our options at the moment for getting a joint mortgage with my partner.
I have 2 ccj's (totalling £5k) which I paid off in full August 2006 and one default (which is part of one of the ccj's) and was wondering what our chances are for getting a mortgage?
We have £10k deposit and we earn £50k in total.
How much can we borrow and would anyone give us a mortgage?
Thanks for your help
I'm looking into our options at the moment for getting a joint mortgage with my partner.
I have 2 ccj's (totalling £5k) which I paid off in full August 2006 and one default (which is part of one of the ccj's) and was wondering what our chances are for getting a mortgage?
We have £10k deposit and we earn £50k in total.
How much can we borrow and would anyone give us a mortgage?
Thanks for your help
0
Comments
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Hi
You would get a mortgage, there may be one high street lender who would look at this but you will most likely fall into what we call near prime category
How much you can borow depends on your monthly credit commitments and type of employments - i.e. employed or self employed, but with a deposit of 10k and the assumption you have no other debts I'd say 200k would be achievableI 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.0 -
It will be really difficult for anyone to give pointers, as you would really need to be armed with your credit files - do you have up to date copies?
MM is right that 4 times income could be achievable, but it will depend greatly on your scenario
What kind of property prices were you looking at?
Get an adviser to exhaust all "standard" options for you first and if they come up as no goes then they should be able to find some good sub prime deals for you
HTHI 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 -
We thought it might be £200k which is good for us. We only have one credit commitment which is a loan for £15k. We are currently renting.
We have received our credit reports and it staes the ccj's, defaults and the loan. The loan is in my partners name.
Who should we speak to? Independent advisor or high street lender?
Cheers0 -
mortgagehelp wrote: »We thought it might be £200k which is good for us. We only have one credit commitment which is a loan for £15k. We are currently renting.
We have received our credit reports and it staes the ccj's, defaults and the loan. The loan is in my partners name.
Who should we speak to? Independent advisor or high street lender?
Cheers
It is important that you speak to a whole of market mortgage broker as they can access the best lender to suit your circumstances.
The worse thing you could do is to start applying to high street lenders that start turning you down as this will leave foot prints.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Thanks,
Can you recommend a website or mortgage advisor?0 -
mortgagehelp wrote: »Thanks,
Can you recommend a website or mortgage advisor?
None of the advisers on here are allowed to recommend a website or adviserI 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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