Assess My Chances

RTW

Hi,

I am looking to purchase my first property. I have a few factors in my favour but a CCJ against my name. I want to know the extent to which this will prevent me (a) getting a mortgage and (b) getting a decent rate.

Property Price: £120,000
Deposit: £48,000
Loan: £72,000
LTV: 60%

Single applicant, £44,000 salary.

Credit File:

- CCJ £62 issued April 2011, satisfied November 2013 (wasn't aware and currently disputing but assume it stands).

- 1 other late payment back in April 2009, paid the following month.

- On electoral roll for past 4 years

- No current debt. Only credit I have is (a) phone contract (now over 10 months old). No late payments on this, (b) £2,000 overdraft - not used in 2 years.

- Had same current account for 9 years, same address over 3 years and current job 9 months

I have been researching mortgages/properties/credit files for a couple of months but haven't yet approached a lender.

Could anyone advise my best course of action? Are there some suggested lenders that i should approach and ones to definitely avoid?

Thanks

happy_bunny_2

Have you tried posting on the Mortgage board? They will know your chances with a broker.

CKhalvashi

This one will be a broker job.

I've seen several with BR on their files get a mortgage with one of the high street banks, so please don't let your CCJ put you off, as long as it's paid.

CK

Jason_Bourne_2

That's 60% LTV not 40%.


With that sort of deposit you should be ok, many lenders will ignore a satisfied CCJ or default under £100.


Broker and all 3 credit files required to make sure you approach the right lenders.

kirkbyinfurnesslad_2

RTW wrote: »

Hi,

I am looking to purchase my first property. I have a few factors in my favour but a CCJ against my name. I want to know the extent to which this will prevent me (a) getting a mortgage and (b) getting a decent rate.

Property Price: £120,000
Deposit: £48,000
Loan: £72,000
LTV: 60%

Single applicant, £44,000 salary.

Credit File:

- CCJ £62 issued April 2011, satisfied November 2013 (wasn't aware and currently disputing but assume it stands).

- 1 other late payment back in April 2009, paid the following month.

- On electoral roll for past 4 years

- No current debt. Only credit I have is (a) phone contract (now over 10 months old). No late payments on this, (b) £2,000 overdraft - not used in 2 years.

- Had same current account for 9 years, same address over 3 years and current job 9 months

I have been researching mortgages/properties/credit files for a couple of months but haven't yet approached a lender.

Could anyone advise my best course of action? Are there some suggested lenders that i should approach and ones to definitely avoid?

Thanks

Well yes unless its been set aside....