Mortgage Help

Thrugelmir

james_Roberts wrote: »

The wife has been turned down as she has one or two CCJ's as was late once paying the mortgage.

Starting to smell of trolling..........

james_Roberts

They own a 50% share in the flat they currently live in, mortgage is currently £50k, they hope to sell that for £150k.

The new house is £249,000.

Current combined income is £54,000, Have a deposit of £20,000 but have debts between them of £39,000.

The wife was refused to increase the mortgage as she has a CCJ as was late paying the mortgage once.

My brother therefore wants to try and get a mortgage off the High Street and wanted me to help him out as desperately wants to move.

kingstreet

They are selling their share for £150k, or the whole flat (100%) is worth £150k?

They have a buyer?

Is the £20k deposit on top of their equity in the property? If not where's the equity going and where's the £20k coming from?

A CCJ? Are you sure? Mortgage arrears aren't normally concluded with a CCJ and certainly not for one payment?

Please ask them to take this to a broker. This is not getting any clearer and however these questions are answered, the final suggestion will still be the same, they need a broker!