re-2nd attempt at mortgage

joe134

hi guys, my grandson tried to get a 90% mortgage september, via a broker, in house, and was told he couldn,t get him one because he has a ccj, over 6 years old. but not spent, although he wasn,t told this? How did broker find it was unsettled?
he was asked "ever" had a ccj, and answered truthfully.yes.
He now wants to try again, but, I fear he will be asked the same question, yet Experian told him ,after, there,s No indication of it on his file, or any of the other agencies, so, it should not be taken into account, and wouldn,t show on any inspection of any credit checks, or why would the 6 year rule apply.

He,s got 6 years of good records, and good score, which I know counts for nothing.
If he lies and says No ccj,s, he may end up on cifas, but, if he says yes, he,s not going to get a mortgage. catch 22
.I prefer the truth, but think he may say No, but, his last attempt may be recorded.Is it?
The house was a repo, and was sold for less than what we offered, so, have a feeling there was something amiss, only one other offer after ours;;MIP was for that house, not any other, the broker never mentioned a MIP for any other property;
any advice would be grateful.
I am helping with deposit etc.

Experian_company_representative

There's no record of a CCJ on your credit report or the register of court judgments after six years, so the only way a lender could know is 1) you tell them or 2) they already know from their records because they were the claimant in the judgment. I think it's common practice for mortgage lenders to ask this question so, assuming your grandson is going to continue to be honest about his past CCJ, he should try to check the policy on this with any prospective lender before applying, to save further unsuccessful applications. A mortgage broker would also probably be able to advise on which lenders this wouldn't be an issue for. Your grandson's credit report won't show that he's been refused by the way, just that he applied.

James

joe134

Experian_company_representative wrote: »

There's no record of a CCJ on your credit report or the register of court judgments after six years, so the only way a lender could know is 1) you tell them or 2) they already know from their records because they were the claimant in the judgment. I think it's common practice for mortgage lenders to ask this question so, assuming your grandson is going to continue to be honest about his past CCJ, he should try to check the policy on this with any prospective lender before applying, to save further unsuccessful applications. A mortgage broker would also probably be able to advise on which lenders this wouldn't be an issue for. Your grandson's credit report won't show that he's been refused by the way, just that he applied.

James

Hi James, Thankyou very much for your reply.You have more or less confirmed what he was told by your company after the refusal.
That has put my mind a little bit more at rest.
I am of the opinion, that the Broker was not altogether truthful, because, he was adamant he could get my Grandson a mortgage, but, when we left it with him, he E-mailed to say no,for that house, no mention of another house, because of the CCj, being unsettled, I don,t know where he got that info from, he was Not told it by my Grandson,I was there, and he wasn,t the party involved, even I don,t know who it is, but I will find out now.
I even told my grandson to settle it, even if it,s time barred.
I think the house was cut and dried, as it was 28 day to finalise.
They had to advertise our offer, and it went for less .?
Appreciate your advice:beer:

Thrugelmir

joe134 wrote: »

I am of the opinion, that the Broker was not altogether truthful, because, he was adamant he could get my Grandson a mortgage, but, when we left it with him, he E-mailed to say no,for that house, no mention of another house, because of the CCj, being unsettled, I don,t know where he got that info from, he was Not told it by my Grandson,I was there, and he wasn,t the party involved, even I don,t know who it is, but I will find out now.

If the broker was unaware of the status of the CCJ. Then no blame can be apportioned in that direction.

Why are you certain that there's no trace of the debt?

SantaKlaus

Who was the CCJ with? Lots of banks are joined together (same bank, different name), just because the CCJ is no longer on the credit report doesn't mean they won't find it as you could have applied for a mortgage from a sister company of the bank that issued a CCJ (if was for a bank loan, creditcard etc etc). Some banks will keep this info on their internal systems for life

joe134

Thrugelmir wrote: »

If the broker was unaware of the status of the CCJ. Then no blame can be apportioned in that direction.

Why are you certain that there's no trace of the debt?

Hi T, perhaps you may recall, I was told not to go with in house broker on here.I do remember chatting to you, et.al about the apllication, before applying for a mortgage.
He was told by my grandson, he had a ccj, for £2k, over 6 years ago, but, he didn,t ask about the details.
How can there be a trace, it,s not on Grandsons Credit files, he subscribes to all 3 , and it,s not there.I,ve seen all 3 reports,because, he,s been building up his score, and doing the right thing, knowing he wanted a mortgage, no mention of any CCJ.
He wishes he,d said No, it was me who persuaded him to be honest.
I seem to remember Kingstreet, saying, he had to alter his question about BR to 6 years from ever, during my post, but, I think that was with Nationwide, because, a guy was asked the same question about his BR, and he got his mortgage, in the end?

SantaKlaus

strange, i have never known anyone on this site to actually say go to an inhouse broker/advisor, usually its "go to see a all of the market broker"

As for your credit report issues, see my post above, it doesn't matter if you cant see the CCJ on the report, if you apply for a mortgage with the bank that issued the CCJ (Or one of its sisters companies!) then they'll probably still have it on their internal systems, i know Nationwide do.

Go to see an all of the market broker, NOT an in house broker/advisor

joe134

SantaKlaus wrote: »

Who was the CCJ with? Lots of banks are joined together (same bank, different name), just because the CCJ is no longer on the credit report doesn't mean they won't find it as you could have applied for a mortgage from a sister company of the bank that issued a CCJ (if was for a bank loan, creditcard etc etc). Some banks will keep this info on their internal systems for life

Hi Santa, I really don,t know, as I only found out during the interview, when the question was asked.My grandson didn,t tell me, but, I intend to find out, soon.

joe134

joe134 wrote: »

Hi T, perhaps you may recall, I was told not to go with in house broker on here.I do remember chatting to you, et.al about the apllication, before applying for a mortgage.
He was told by my grandson, he had a ccj, for £2k, over 6 years ago, but, he didn,t ask about the details.
How can there be a trace, it,s not on Grandsons Credit files, he subscribes to all 3 , and it,s not there.I,ve seen all 3 reports,because, he,s been building up his score, and doing the right thing, knowing he wanted a mortgage, no mention of any CCJ.
He wishes he,d said No, it was me who persuaded him to be honest.
I seem to remember Kingstreet, saying, he had to alter his question about BR to 6 years from ever, during my post, but, I think that was with Nationwide, because, a guy was asked the same question about his BR, and he got his mortgage, in the end?

Just found original post T.joe134 Old 04-10-2013, 5:57 PM
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Quote:
Originally Posted by Thrugelmir View Post
Learn from the experience. Encourage your grandson to continue to save. Maybe target a cheaper property next time thereby requiring a lower LTV mortgage. Credit records are like job CV's. They tell a lender a lot about your character and attitude to money.
Hi Thrugelmir, the broker is still looking into it, because, the ccj has dropped off his file, BUT, apparently wasn,t satisfied?????? surely it should still be on Experians report?
I know his file showed his attitude was living beyond his means,Iv ,e told him so,often, and can understand the refusal for that, but, the ccj, apparently was/is the objection.or, icing on the cake;;I told him he was a bad risk at present climate
Also the "ever" in the question.shows, the six year period is irrelevent, if it doesn,t show, and yet is still taken into account.
next time around, does he declare he has been refused a mortgage, or one wasn,t available?? and the reason why;?because, that,s one of the questions too;;;;depends on how you answer it.
That,s the rules and we have to abide with them.
Last edited by joe134; 04-10-2013 at 6:10 PM.
this was the end of the thread.
Which is the status Quo.

Thrugelmir

Has he checked.

http://www.trustonline.org.uk/

joe134

SantaKlaus wrote: »

strange, i have never known anyone on this site to actually say go to an inhouse broker/advisor, usually its "go to see a all of the market broker"

As for your credit report issues, see my post above, it doesn't matter if you cant see the CCJ on the report, if you apply for a mortgage with the bank that issued the CCJ (Or one of its sisters companies!) then they'll probably still have it on their internal systems, i know Nationwide do.

Go to see an all of the market broker, NOT an in house broker/advisor

Hi s, Yes,you are correct, that,s the Advice I was given,on here, but, Grandson, decided he would go in house, and made appointment, I had a whole of market one lined up, but, didn,t follow through, when in house said no.