Mortgage Struggle's

jack_28

Hello Everyone,
First time poster on here as having real difficulty obtaining a mortgage or getting consistent advice as everyone we speak to has different opinions. Firstly i know 'Credit Scores' don't mean much on experian but my gf has good credit never been rejected and has high credit limits on her credit cards even though we don't use that much credit. My past credit history is a bit darker i Missed some previous mortgage payments which i cleared and i am coming up to 3 years no missed payments i also have a cci for £159 which is been satisfied for 18 months. We have joint savings of £30k and require a mortgage for £180,000. Now some people are saying the ccj is the reason for being rejected and others are saying that its because 3 years haven't passed since i missed a payment. it all seems so confusing.

I almost feel there is no real reason to payback arrears as i might as well defaulted on that mortgage and kept the 3k arrears and waited 6 years.

any help or guidance would be a great help as i just seem to being going round in circles. and we want an 85% ltv mortgage.

kingstreet

Who is the "everyone" you have spoken to?

Any independent mortgage brokers?

jack_28

We began our search speaking to an in house broker at Connells but was little help then we spoke to simply adverse and 1 independent whole market broker. i also enquired with the post office mortgage department and spoke to an underwriter. Forgot selective mortgages as well.

ViolaLass

How much do you each earn?

jack_28

My Partner earns 21k and i am on 17k a year with a minimum of 5k a year commission on top of that which is worse case earning potential.

amnblog

You are wasting your time with anyone who is not an adverse credit specialist. Certainly, you should not be going direct to Lender.

jack_28

the thing that annoys me the most is that they don't seem to care i put the effort into clearing the arrears and the arrears fee's on top of that to. and the ccj was due to a miss understanding with a friend who i had the previous property with and the water bill was missed and got a ccj for it but it wasn't for not having the funds.

amnblog

Lenders want you to put the effort in to paying debts on time.

This market has no room for 'background stories'.

Having said that, you should have options if the arrears are sufficiently historical.

TooClumsy

Hi Jack,

That sounds very very harsh, you have a sizeable deposit saved up. The LTV works out to be just over 86%, that does not bode well for other FTBs (like me too!) who are scraping together a deposit. We have just found out today that my husband has a CCJ that is a year old that we had no idea about.

Did you manage to find a mortgage?

Malmo

Don't bother with estate agent based advisers. With regards to Connells, you might want to familiarise yourself with this extensive thread about how Connells operate.