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Applying for mortgage, partner has a CCJ

Engeroosi
Engeroosi Posts: 493 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Mortgages & endowments
Ok where to start.

Incomes

Me.(M) 49000 per year
Partner(P) 29500 Per year

P has a CCJ from June 2015 for 1200 will be satisfied in november 2017
P has 2 dependants (12 and 14)

M has loans totalling 45k (to be paid off when sell M house)
M has mortgage for 66.5k
M has house worth around 170k

M and P want to buy a 290k house.

Had a quote from a mortgage advisor for fixed rate at 3.44% for 2 years. 995 product fee. Then ontop of this a 3k fee to the mortgage advisor.

Is the only real option to pay some 3k to make our mortgage application?

Comments

  • ACG
    ACG Posts: 24,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The fee is ridiculous.
    The rate is a touch on the high side, not massively but maybe 0.5% above what I think is achievable.

    I would suggest a new broker if nothing else other than them thinking £3k is reasonable.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • amnblog
    amnblog Posts: 12,764 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The fee is well above the market average I'm afraid.

    As an adverse credit client you might expect to pay up to £1,000 for your brokers advice.

    Your location may mean limited local services but you can deal online with many mortgage brokers.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Engeroosi
    Engeroosi Posts: 493 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Ok, my thoughts exactly but didnt want to insult any mortgage advisors out there.

    Is it possible you could offer your services or let me know of any advisor you would recommend?
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Engeroosi wrote: »
    Ok, my thoughts exactly but didnt want to insult any mortgage advisors out there.

    Is it possible you could offer your services or let me know of any advisor you would recommend?



    May I suggest you Private message them, that's what I did and I got a mortgage hassle free tbh
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • ACG
    ACG Posts: 24,690 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Engeroosi wrote: »
    Ok, my thoughts exactly but didnt want to insult any mortgage advisors out there.

    Is it possible you could offer your services or let me know of any advisor you would recommend?

    Brokers can not tout for business, there is nothing stopping you messaging them but they can not make first contact.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Djeffries
    Djeffries Posts: 1 Newbie
    Can I ask who your financial adviser is or what mortgage company you have the offer on. We are in a similar situation and am really struggling to find a mortgage offer.

    Thanks
  • amnblog
    amnblog Posts: 12,764 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Djeffries wrote: »
    Can I ask who your financial adviser is or what mortgage company you have the offer on. We are in a similar situation and am really struggling to find a mortgage offer.
    Thanks

    The scenario above should have a few suitors.

    Consult a good mortgage broker.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Engeroosi
    Engeroosi Posts: 493 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I think you should contact one of the brokers who use this website, they will be able to assist for far less than the original adviser was quoting.
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