We want to move but have CCJ

rainingcats

Hi wonder if anyone can advise. We want to move and own 70 percent of the house- the rest is Halifax mortgage. The house we want to buy would only require the same amount mortgage we already have but existing one isn't portable. They said we would have to start again with them- problem been we have a CCJ which we are still paying off. ( company happy with monthly payments and none have been missed but occurred after taking out last mortgage) In the meantime over the last 6 years we have never missed a mortgage payment. Are the Halifax likely to take this into account as we have been good customers or will they turn us down because of ccj. Any help appreciated

Foxy-Stoat_3

Your asking on this forum if your existing Halifax mortgage can be closed and a new Halifax mortgage taken out? Think you should ask Halifax to be honest.

Assuming Halifax are aware of the CCJ and your LTV is still going to be 30%, which is very low, I cannot see any issues.

Wonder what its like to only borrow 30% for your house....... your in a good place there I think...compared to all the folk asking about 90-95% mortgages on this forum with bad credit history.

Dave_Ham

Highly likely to reject, as they assess as fully as they would a new application.

When was the CCJ and for how much?

Dave_Ham

If in the last 3 years, highly likely to fail their automated credit score (depending upon the value and date)

Foxy-Stoat_3

Dave_Ham wrote: »

Highly likely to reject, as they assess as fully as they would a new application.

When was the CCJ and for how much?

Shame you can't speak to a human about this sort of thing, computer says "no" then...

Leon_W

Personally, in these sort of situations, I can't really see the problem with straightforward porting with only a property report required and no further underwriting. That's not to say that Halifax will do it - they probably wont, but it's not like they can un-lend the money is it ? As long as there is no further borrowing and the terms are unchanged I think mortgage lenders ought to lighten up a bit and deal sympathetically with such cases - but they won't.

Thrugelmir

Foxy-Stoat wrote: »

Shame you can't speak to a human about this sort of thing, computer says "no" then...

A human is equally likely to say no under such circumstances.

rainingcats

It was in 2007 for a nat west loan, we had a baby which meant I lost my income. They would not accept reduced payments as asked and took us to court via a company called shoosmiths. Amount was 10,000 now 5000.

Dave_Ham

Foxy-Stoat wrote: »

Shame you can't speak to a human about this sort of thing, computer says "no" then...

I think we are a bit past the human part, although in this situation it is crazy enough but we have seen clients trying to downsize and take less money and pay off other debts and then lenders still say no.

If they fail the automated Halifax score, they are incredibly unlikely to do it..

rainingcats

Oh I am stupid I meant to put intelligent Finance not Halifax- duh

Thrugelmir

rainingcats wrote: »

Hi wonder if anyone can advise. We want to move and own 70 percent of the house- the rest is Halifax mortgage. The house we want to buy would only require the same amount mortgage we already have but existing one isn't portable. They said we would have to start again with them- problem been we have a CCJ which we are still paying off. ( company happy with monthly payments and none have been missed but occurred after taking out last mortgage) In the meantime over the last 6 years we have never missed a mortgage payment. Are the Halifax likely to take this into account as we have been good customers or will they turn us down because of ccj. Any help appreciated

If you can afford to move house. Why haven't you repaid the debt sooner.

While you may received an interest free loan. The impact of the CCJ will be to severely impact your credit profile. You can't have have your cake and eat it as the saying goes.