Mortgage with CCJ?!?!?

Katielou14

Hi, myself and my husband have recently moved in with parents in order to save for a deposit for a mortgage. My husband was self employed up until July last year, and as a result of his self employment we got in a little bit of debt.

My husband has a CCJ of £3000 unsatisfied from 2013.

We haven't been to see a mortgage advisor as yet but I'm just wondering if anyone could tell me what our chances are of obtaining a mortgage once we have a deposit, hopefully in about 12 - 18 months time. We have 2 small children so we would really love to be able to get our own house as soon as possible!

Thanks.

Thrugelmir

Settling the CCJ would a good start.

pollydollydoodah

I think once it's paid, there are lenders from 3 years.....As I asked this question recently but our ccj was paid and its almost at 6 years.

We saw an independent broker who gave us info and we are just waiting now for the 6 years to be up and rebuilding our credit history.

amnblog

This is a sizeable CCJ and if you apply in the next couple of years you should expect to have to put down a 15% deposit.

David_White

Potentially options available now as well as 12-18 months but don't expect a High St rate.

Settling the CCJ wouldn't necessarily be a requirement to all lenders but certainly would make you more attractive as a borrower.

HappyMJ

Katielou14 wrote: »

Hi, myself and my husband have recently moved in with parents in order to save for a deposit for a mortgage. My husband was self employed up until July last year, and as a result of his self employment we got in a little bit of debt.

My husband has a CCJ of £3000 unsatisfied from 2013.

We haven't been to see a mortgage advisor as yet but I'm just wondering if anyone could tell me what our chances are of obtaining a mortgage once we have a deposit, hopefully in about 12 - 18 months time. We have 2 small children so we would really love to be able to get our own house as soon as possible!

Thanks.

You could settle it before buying which would be recommended.

You don't have to but....as you would soon own an asset the creditor could get a charge against it and enforce payment. It's unlikely they would force a sale but they would eventually get their money.

I'd save up as much as you possibly can so you can choose from the widest range of mortgage providers possible.

chelseablue

I would settle the ccj.


My partner had a default for £900 in 2011, settled in 2103 and we complete on our house purchase this week.

Katielou14

Thanks very much for all your replies. We do plan on paying off the CCJ before we start saving for a deposit.

Just wanted some advise as we have felt like we had no chance of getting a mortgage because of the trouble we had got into.

All info I've seen states we would need miniumn of 15% deposit... going to take us quite a while!!

Thanks again.

Thrugelmir

Katielou14 wrote: »

Just wanted some advise as we have felt like we had no chance of getting a mortgage because of the trouble we had got into.

There's always a chance. Up to you to put the hard work in. If you want to achieve your dream.