Bad credit history!

raj1

Hi All,

I need a mortgage but my credit history is worst as I have CCJ not satisfied as i am not making any payments towards it. Also got default on different credit cards but i am paying some money to Consumer credit counselling to pay off my credit cards but i just started so it shows on my credit file as defaults.
Is there any chance of me buying a home either part rent part buy or any other scheme.
Your response will be highly appreciated?

Crashandburn

It'll be handy to know the amounts of both the CCJ and defaults as well as the dates they were registered. This will be the first thing that lenders look at though the fact that some of it is being paid to the consumer credit counselling may cause another issue.

hoggums

No. Next question please.

kingstreet

raj1 wrote: »

Hi All,

I need a mortgage but my credit history is worst as I have CCJ not satisfied as i am not making any payments towards it. Also got default on different credit cards but i am paying some money to Consumer credit counselling to pay off my credit cards but i just started so it shows on my credit file as defaults.
Is there any chance of me buying a home either part rent part buy or any other scheme.
Your response will be highly appreciated?

You will not be able to apply for shared ownership with a visible adverse credit history.

Please set out the deposit you have and desired purchase price, plus for your adverse credit entries;-

dates of registration
type - CCJ, default
amount £
lender
reason.

Is the CCCS arrangement a debt management plan, or an IVA?

raj1

Thanks for Reply!
I have a CCJ of £9000 and it was on my file from 2008 also got credit of around 10 k which i making payments to CCCS.
Is there any way i can combine this amount and added to a mortgage? it sound silly but i need to get on the ladder.

Dave_Ham

Have you got a deposit?

maninthestreet

raj1 wrote: »

Thanks for Reply!
I have a CCJ of £9000 and it was on my file from 2008 also got credit of around 10 k which i making payments to CCCS.
Is there any way i can combine this amount and added to a mortgage? it sound silly but i need to get on the ladder.

No, you WANT to get on the property ladder, rather then NEED.
As you cannot cope with your current level of debt it is extremely unlikely any lender would consider lending you money, even if it was secured on a property. There is also the issue of raising the required deposit for any intended property purchase...

raj1

@DaveHam Yes i do have a deposit as my father in law is ready to give me 10%.

Dave_Ham

Incredibly unlikely I am afraid.

If he can gift you 15% you may have a chance, specifically if he helps settle the unsecured debts too.

raj1

What are my chances if i arrange 15% o deposit and also how can i settle unsecured debt? is there any chance i can merge all my debt including CCJ in to my mortgage?
I mean i am ready to pay one amount a month which includes my mortgage and my debt to pay off everything?

Thrugelmir

raj1 wrote: »

merge all my debt including CCJ in to my mortgage?

No chance. An unpaid CCJ is a cardinal sin. Lenders will not be interested.