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Small Mortgages

gilly33
gilly33 Posts: 54 Forumite
in Mortgages & endowments
What chance is there to find a lender who is willing to lend to someone with a CCJ over 2 years and on a property under £75k?
«1

Comments

  • kingstreet
    kingstreet Posts: 39,419 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What's the loan to value?

    Purchase or remortgage?

    Size of judgment? Reason? Registration date? Satisfied? When?

    Bank account conduct? Any other issues?

    Is the CCJ visible on all three versions of your credit file?
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • gilly33
    gilly33 Posts: 54 Forumite
    Sorry should have said its a buy to let. CCJ was satisfied in November 2012 was registered in May 2011. I've got 25% deposit. Was given when I was living in Spain because of extra costs owed from a car I had on HP. Contract ended had to extend it for an extra month whilst car was in for repairs but there was more damage that I didn't get fixed separate car incident. Bank account is healthy. CCJ is seen on call credit & equifax not experian.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Do I assume you are owner occupier currently?

    Achievable with the above answered as yes, although highly likely to require a broker.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • kingstreet
    kingstreet Posts: 39,419 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I agree.

    Broker would be best first port of call.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • gilly33
    gilly33 Posts: 54 Forumite
    I have a residential mortgage that I'm letting out and renting at the moment. I have a broker he's finding it a struggle
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Get a better broker, I would expect this to be achievable and you do not need a broker speculatively attacking a few lenders on the off chance.

    All the best
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • gilly33
    gilly33 Posts: 54 Forumite
    Really not feeling optimistic about this one since my options are very limited. The property needs a bit of work when its done it will be worth £80k, so thinking of plan b would be to take out a bridging loan do the work and then switch it to an adverse mortgage lender who will look at £75k. Would like to get some advice on this.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    I would be sticking to plan A first as bridging never comes cheaply. Also some lenders have restrictions about coming off bridging, timing etc. and therefore decent advice would be good.

    Is the property habitable, with functioning kitchen and bathroom?
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • gilly33
    gilly33 Posts: 54 Forumite
    Yes it's habitable, kitchen and bathroom fine. Tenants painted most of the rooms bright red & green and left it looking a mess. Quite a bit of damp due to condensation but nothing major. I can have it looking good for £5k so would be a shame to walk away because it would give me a good rental yield.
  • gb12345
    gb12345 Posts: 3,055 Forumite
    hnagra wrote: »
    We are brokers and can offer you what you need, please contact me on XXX

    No you're a pathetic spammer not a broker.
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