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Mortgage chances, 1 of us with adverse credit
cityoflights
Posts: 6 Forumite
Hello all,
Sorry but I thought this might be a good place to get some basic advice. OH & I applied for a mortgage last year, but were declined. We are currently living with parents & saving but I want to know if it will be worth applying again in a year's time/our chances of success. If we actually won't be able to do it even in a year, then I'm tempted to give up and rent. Something we really wanted to try and avoid.
Working family. 2 children.
We will have 10% deposit.
Looking at homes 115-125k mark.
My salary = £25-30k
OH salary = £14k
Me
All payments up to date
Last missed payment/s were in 2011, everything spotless since then
Car payment of around £163/month, no other credit agreements
OH
1 x CCJ of almost £600, satisfied
1 x loan Default, registered 2011, now being paid and up to date
If anybody can advise as to whether or not we'd have a shot. That would be helpful.
Sorry but I thought this might be a good place to get some basic advice. OH & I applied for a mortgage last year, but were declined. We are currently living with parents & saving but I want to know if it will be worth applying again in a year's time/our chances of success. If we actually won't be able to do it even in a year, then I'm tempted to give up and rent. Something we really wanted to try and avoid.
Working family. 2 children.
We will have 10% deposit.
Looking at homes 115-125k mark.
My salary = £25-30k
OH salary = £14k
Me
All payments up to date
Last missed payment/s were in 2011, everything spotless since then
Car payment of around £163/month, no other credit agreements
OH
1 x CCJ of almost £600, satisfied
1 x loan Default, registered 2011, now being paid and up to date
If anybody can advise as to whether or not we'd have a shot. That would be helpful.
0
Comments
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You have a shot. The date of the CCJ will be key.
Contact a sensible mortgage broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Date of CCJ and default would be important (when in 2011).I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The date they went on the report.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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I've just checked and it turns out the CCJ was earlier, June 2010. I need to find out on the default.0
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Please speak to a recommended broker and this should be achievable now, I would be really surprised if not.
Well worth achieving your OH Experian, Equifax and Call Credits in advance of formally discussing with a broker.
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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