Ftb & ccj

HHFTB

Hi,

I searched the forum and scouted the internet for as much information as I can find, before coming here and asking but now I'd like to ask a couple of questions before we start speaking to a broker.

So, we have a deposit of £22k, I earn £36k and my partner £24k, we're first time buyers and all should be well. However, I have a CCJ (£1k) dating back to October 2012, it was satisfied June 2015 and will come of my record in October 2018.

I gather based on this we're quite restricted as to where we may be able to get a mortgage...

So my questions are:

1.) Are we restricted to the sub-prime market?
2.) If so, then are we restricted to a LTV of 85% at most?
3.) What sort of rates are we looking at, assuming a subprime lender and 85% LTV?
4.) Is the Help To Buy ISA bonus is unaffected by which lender we use?
5.) Unlikely, I know, but are there any high street lenders that would lend to us? (I've read about some successes with Nationwide & Halifax (we both bank there))

If any of you kind people can provide any answers for my questions, I'd be very grateful...

Thanks.

Hoploz

The best thing to do is see an independent broker who has access to the whole market. They will know which lenders are the best for your situation.

I thought if the CCJ was settled you could apply to the credit reference agencies to have it removed from your record - have you checked this? I thought it was only if it was left unpaid it stays on for the 6 years.

Bluebirdman_of_Alcathays

Go to a broker. A relative had a CCJ (satisfied) less than 2 years ago, and obtained a 90% mortgage with a high street lender.

Guest101

Hoploz wrote: »

The best thing to do is see an independent broker who has access to the whole market. They will know which lenders are the best for your situation.

I thought if the CCJ was settled you could apply to the credit reference agencies to have it removed from your record - have you checked this? I thought it was only if it was left unpaid it stays on for the 6 years.

no, CCJ's stay on for 6 years - it's on a public register so even if a CRA agreed to remove it (which they wont) it will be on the register which all lenders reference anyway.

marksoton

You need a broker specialising in adverse credit.

ap1985

I would suggest speak to a broker...I did have a CCJ on my file and various defaults however they were falling off my credit file in 2017. I managed to get a mortgage with a high-street lender. The interest rates weren't the best but weren't hugely high either.