Well, dress me up and call me ...

DesperateSusan

Well, dress me up and call me Sally!

I have a CCJ, 6 credit card defaults with credit card debt of over £50k - and I've just been offered a mortgage

OK - so the CC debt and defaults are a few years old - I'm basically gonna walk away from the debt, and the CCJ started at about £3k and is now about £1k - but even so, I didn't expect to get a mortgage ever again.

The rate is decent, no bad terms. Interest fixed for 2 years. Over payment possible with no penalty.

I'm chuffer

So, dress me up and call me Sally!


Sue

orangeyred

Which lender did you use, if you don't mind me asking?

ACG

orangeyred wrote: »

Which lender did you use, if you don't mind me asking?

Dont assume they will accept you.

Someone saying they have defaults/ccjs might sound like its the same as your situation but there can be reasons why the lender accepts them and not others (dates, amounts, type), the overall LTV and look and feel of the case.

I always remember getting an IVA through with a high street lender which but they declined someone with a £200 default less than a month later.

DesperateSusan

orangeyred wrote: »

Which lender did you use, if you don't mind me asking?

The mortgage company is Precise Mortgages .

I went through broker - Assetz for Investors.

They look like their only set up for commercial / investment mortgages, but they have a residential division, too.

I made contact via their contact page:

http://www.assetz.co.uk/contact.htm

I just wrote something like "I'm looking for a mortgage but I have CC defaults and a CCJ. Are you able to help?"

I expected either: "no chance, don't waste my time" or "yes, the interest rate with be 77%".

What they were keen to know is whether I had any new adverse credit markers added in the lst 24 months or so. Happily I hadn't.

I took screen shots of my Noddle report showing ALL my bad credit items, and all the good stuff too (eg I've never missed a payment on my phone contract. I enclosed that info).

One of the guys at work recenty got his first house and mortgage. I have the same rate as him, so the interest rate isn't loaded because of my credit history.

As has been said, your circumstances maybe different, but I think its worth a quick email to assetz - it may work out.

Good luck!

Sue

Paully232000

good news, was that a decision in principle, or have given you the money and you have completed on the purchase?

DesperateSusan

It hasn't completed yet, but it is going ahead. I have had a formal offer and it is with the solicitors now.

I should have said my credit score was and still is appalling - 1 out of 5 on Noddle.

Regards,

Sue

DpchMd

What was the rate and LTV?