Remortgage old CCJ

Hopeful2013

Hi, i hope someone is able to give me some advice, been a long time loomer and reader but never posted.

We purchased a property in 2005 for £95,000 with £5,000 deposit, i had virtually no credit history and partner had bad credit history so we were happy at the time to have been accepted, it was only after trawling various sites we realised that our mortgage wasn't mainstream, it wasn't explained to us by the broker we were taking on a libor rate mortgage (1st mistake) we were just grateful to be lucky enough to get on the property ladder!!!

Anyway the move went ahead, other half had a bad car accident 6 months after we got the house, we stumbled through and always made sure the mortgage was paid, at the detriment of couple of credit cards where payments were late! We really didn't know the significance of this til we found out Future had stopped lending and the fixed rate ended and we were put on the variable rate, we then tried to find another lender to swap too, no one would touch us..... (naive yes i know).

I was out of work for almost 8 months in 2009 this resulted in 1 CCJ and 2 defaults, none are settled as yet but are being paid, so i am aware they still have just under 2 years of sitting on my credit file. What i need to know is what are the chances of being accepted now with another lender while rates are still low, this is our situation.

Mortgage outstanding £73,000 OH earns £24k i earn £18k we have a son 18 currently at college, so still receive CB £20 week at least for the next 12 months.

Debts - we both have credit cards that are being paid off, OH has Barclaycard £1500 Co-op C/C £1850 and has £3500 owing on his Co-op car loan (18 months left to pay).
My debts equate to approx £8000 so total debt £14850, this was around £18k so we are making progress to pay them off, i have closed all but 2 accounts so i cannot be tempted to spend on them as i pay them off.

So the idea is we want to remortgage the total debt, i know it is not advisable but it is the only way we will be debt free apart from the mortgage, so fed up of not being able to afford even a small break away or ever having any spare cash as the debt swallows up all the income. I realise people have been inclined to run up the debt again but as previously mentioned this will not be possible as the accounts are closed.

The house has been valued recently at £128,000 so realistically i think it's worth £120k.

Any suggestions, please don't judge us we know we've made a hash in the past but haven't had any late payments or problems since 2009.

Thank you in advance!

amnblog

You havent said what rate you are on now, but I suspect you can improve on it, even with your patchy history.

Consolidating your debt into yuor mortgage is a big step as it makes your home security for your loans.

Speak to a broker before you do anything.