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First time mortgage with 2 paid off ccj's

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? :confused:
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 :D

Comments

  • MortgageMamma
    MortgageMamma Posts: 6,686 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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 achievable
    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.
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    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

    HTH
    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.
  • 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
  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    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.

    JoeK
    I 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.
  • Thanks,
    Can you recommend a website or mortgage advisor?
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Thanks,
    Can you recommend a website or mortgage advisor?


    None of the advisers on here are allowed to recommend a website or adviser
    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.
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