Advice please on buying with previous bad credit history

DEADBIRD_2

I am hoping that someone in the know can give me some advice.

My husband and i accrued a significant debt (around £50,000). We have had a DMP with the CCCS since 2002, recently paying £1,187 per month, with only £3,000ish left to pay (last payment due in October but have money to clear this now if appropriate). We own our own home worth approx 85,000 and we have not defaulted any payments on mortgage since 2000. We made some reduced payments to cccs (arranged) in early 2006, which i now know count as defaults.

We have seen a house we like for 169950, which is more suitable for our needs and more accessable for work etc and we are really keen to move (and have a potential buyer for our house already). I know we wll have no problems meeting the mortgage payments as they would be far less than our cccs payments.

My question is will anyone lend to us now our cccs dmp is (potentially) finished. Will we still be classed as sub prime?

Any thoughts would be helpful.

Cheers

Lil

Burlesque_Babe

hi - it might be worth asking on the Mortgage board, but yes, until you have a very clean credit file you will probably be classed as sub prime. It would be worth getting your credit report from equifax and experian though to see what is on there.

I moved house 3 years ago with 1 tiny (£500) paid CCJ and 1 small paid default and had a sub prime mortgage.

I moved companies in May as soon as I could escape the last deal and have 12 months of my CCJ left and the default has dropped off. i'm now classed as sub prime plus.

When this deal is up for renewal in 3 years, I will be a prime customer - hurrah!! Although, I'm paying 5.44% fixed as a sub prime plus, so it's not that bad a deal.