Mortgage Lenders Who give mortgage when CCJ is on file.

howmuchcaniget

Hi.

Me and my wife are thinking about getting a mortgage with a 5-10% deposit, we're both in employment but my wife's is part time. but we both come out with the same amount at the end of the month.

My main worry is the CCJ which was from a debt when I got divorced 6 years ago but only appeared on my credit file in 2010 (they didn't advise me as the address was my former marital home) it is from 17/09/2010 (experian). What are our chances of getting a mortgage.

I've been to see an adviser for virgin money and they advise they wouldn't offer me a mortgage but someone out there would. Any ideas who would???

Thanks

ACG

Get all 3 credit reports (experien, equifax and call credit).

If the CCJ is showing on all 3 your going to struggle with anything less than a 15% deposit, 10% could be a possiblity depending on everything else but 5% you have no chance.

Senior_Paper_Monitor

None at 90 - 95% loan to value- simply not going to happen in my view.

How much is CCJ for, is it satisfied and when ?

howmuchcaniget

The CCJ is £5,600 and is still marked as a judgement as I've not paid the full amount.

Would a higher deposit help in with this?

Was thinking of the government offer where we put the 5% deposit and the 20% from the government.

howmuchcaniget

what happens to the CCJ in 3 years? does that still show up on my file?

Senior_Paper_Monitor

On file for 6 years.

If you settle it you may (subject rest of details) be successful at 85% (but those lenders don't do 'help to buy').

We don't do much 'help to buy' (so someone else may correct me here) but the lenders who support the scheme have little appetite for adverse cases and will certainly not consider unsatisfied CCJ. I believe the 'government involvement' is also credit checked and would expect the CCJ to be unacceptable at this age (and certainly if unsatisfied).

ACG

I dont think help to buy is going to help either.
I also dont think i would satisfy the CCJ - i think the money would be put to better use building up a 15% deposit.

howmuchcaniget

Thanks ACG, thats what I was thinking as if i satisfy it then it would be there for 3 years anyway.

it's got me thinking now.

Senior_Paper_Monitor

I'm afraid I think its going to need both, and the longer its been settled when you apply the better.

What to me is the likely lender certainly insists that CCJs are 2 years old and satisfied (they don't mind defaults unsatisfied but CCJs must be)

ValHaller

howmuchcaniget wrote: »

My main worry is the CCJ which was from a debt when I got divorced 6 years ago but only appeared on my credit file in 2010 (they didn't advise me as the address was my former marital home) it is from 17/09/2010 (experian).

The key date is the date of the CCJ - not the date it appeared on your file. I make the point because it appears that this CCJ did not make its way on to your file immediately. So 6 years form the CCJ itself.

If there is a good reason why you did not respond to the claim and defend, there may be grounds for the CCJ to be set aside - although don't hang your hopes on this. If you still owe money you might be able to convince the creditor to agree to a set aside in exchange for payment in full. The creditor may be more lenient than a court over the criteria - but may be more aggressive thereafter in seeking the money from you if they refuse to do a set aside.

If you do get a set aside, this resets the clock to the point before the CCJ and the creditor is free to have another go - so you have to pay up in full (unless you think you would win disputing any part of the original judgement)

As ACG says, it may be better to let the entry run its course, particularly if the CCJ turns out to be more than 3 years old

Thrugelmir

howmuchcaniget wrote: »

Thanks ACG, thats what I was thinking as if i satisfy it then it would be there for 3 years anyway.

it's got me thinking now.

An unsatisfied CCJ is going to impact you.

A credit report is very much a reflection of your personal attitude towards monetary matters. These days credit scoring is as much about profiling. As it's possible to group people into distinct categories.