Mortgage with a CCJ

TychoBrahe

I'm currently looking to buy a house for the first time. I've just checked my credit report and there's a CCJ registered against me that I accrued when I was with my ex-wife. That was my own wrong doing but she had also previously racked up some debt on store cards that I was not aware of. I've cleared all of those now.

I have been in touch with the creditor to clear off the £580 on the CCJ and am aware that it will be on my record for 6 years. There's 4 years to run on it.

My current financial situation is:

My income: £108,000
My new wife's income: £32,000
Savings for a deposit: £170,000
House prices in the area: Around £450-550,000

Due to my own stupidity am I better off continuing to pay rent for the next 4 years and saving a bigger deposit on the side? Or what are my chances of getting a mortgage with a CCJ on my record?

Dave_Ham

What was the exact date of the CCJ?

Have you any existing credit lines, cards, loans etc.?

I think that there will be solutions given the size of your deposit, although likely to be a Building Society and your current bank account behaviour will need to be consistent and transparent..

TychoBrahe

Dave_Ham wrote: »

What was the exact date of the CCJ?

Have you any existing credit lines, cards, loans etc.?

I think that there will be solutions given the size of your deposit, although likely to be a Building Society and your current bank account behaviour will need to be consistent and transparent..

The CCJ is from August 2010.

I've got nothing in the way of cards and loans. I've always kept away from credit. My bank account has always been in the black and I've had the same account since 2001.

Dave_Ham

Ok, so over 2 years on the CCJ and satisfied will give opportunities.

I am assuming that your Wife's credit file is good?

I think there is enough to go at to be honest, you are incredibly unlikely to find your solution on the highstreet though so if hell bent on buying then engage a decent broker.

Obviously, if you continue to rent and still save then you will be putting yourself an even better position.

Time and bigger deposit will only improve your position as time goes on..

kingstreet

Are you still financially associated with your ex-wife? What was her credit like?

If you haven't already done so, order your statutory credit files from all three CRS to ensure they are consistent;-

Equifax

https://www.econsumer.equifax.co.uk/...erletter.ehtml

Experian

https://secure.wiseconsumer.uk.exper...x.html?data=00

CallCredit

https://www.callcredit.co.uk/stat-re...pl=regPurchase