Mortgage with a criminal record.

percy88

Hey guys,

Last weekend I made a very stupid mistake and I drunk drove.- Please go easy, I have a lot of self loathing and no respect at the moment.

I'm waiting for my court hearing, but I was wondering how this is going to affect my long term plans. Is it just black and white with lenders- a criminal record means no mortgage? It's not financial related so will this be taken into account?

From what I've read it may lay with trouble getting home insurance as it'll bump premiums up having unspent convictions or in fact eliminating a lot of insurers because they won't risk it. Does anyone have any personal experience with this? Are the premiums unrealistic?

I finally gave myself something to focus on after a rough couple of years, and now I feel i've ballsed this up too. I could technically wait 5 years until the conviction is spent, but i'd be 35 by then- would that age be considered a risk?

Thank you for any advice you can offer.

Teamocil

Nobody's ever said anything to me about doing a DBS check for a mortgage. I don't think it's an issue at all. I don't know if you've noticed, but lenders aren't really into morals. It's purely about whether they think you can pay it back.

I guess there might be an issue over whether you might lose your job..?

macman

The main financial penalty you will face is the huge hike in your motor insurance premium once you get your licence back (12m minimum disqualification).

boo_star

macman wrote: »

The main financial penalty you will face is the huge hike in your motor insurance premium once you get your licence back (12m minimum disqualification).

The hike in house insurance premiums won't be minor, either.

whambar

Fear not Percy

In my young , tender and stupid years I got a DR10 and subsequent criminal record - which at the time was excempt from rehabilitation of offenders act. I have moved and remortgaged many times and declared it in early days but I found that they treat it like home insurers and class it as a motoring offence and have no interest - I think they are more looking for fraud or deception type convictions. Don!!!8217;t think you need to worry about that element

Do expect eye watering insurance premiums in the future and employment problems if driving or a licence required etc. Take the option of the rehabilitation course if available - once completed licence back 25% earlier and will never do it again when you meet the parent of a victim - that woke me up to the reality of it

percy88

Thank you for your replies. I've been assured that I won't lose my job. I guess my main concern would be the price of home insurance which I understand lenders prefer, if not, require you to have?

Thanks again

percy88

Ah thank you, Whambar. I know I have no right to feel hard done by, but I'm particularly worried about the financial burden and how a stupid mistake is going to affect the rest of my life as opposed to what the magistrates will be dealing me. (Though i'm not looking forward to that, either). I'm just so thankful there was no accident, and more importantly nobody else was hurt.

whambar

No worries, my home insurers were not bothered by it so no increase in premium I think again they are worried about you being a fraudster or arsonist so long as you didn’t torch your car and report it stolen you shouldn’t notice a difference in home insurance from my personal experience.

I treated it as a hard lesson learned - losing my licence on reflection and the £1000 fine was getting off lightly.

sal_III

percy88 wrote: »

From what I've read it may lay with trouble getting home insurance as it'll bump premiums up having unspent convictions or in fact eliminating a lot of insurers because they won't risk it. Does anyone have any personal experience with this? Are the premiums unrealistic?

That's a bit harsh, how much over were you and did you cause damage or were you just stopped?

If it's the latter and not (by the sound of it) a repeat offence, I highly doubt you will get conviction. Disqualification and a hefty fine - sure.

davidmcn

sal_III wrote: »

If it's the latter and not (by the sound of it) a repeat offence, I highly doubt you will get conviction. Disqualification and a hefty fine - sure.

You might be misunderstanding the meaning of "conviction".

macman

percy88 wrote: »

Thank you for your replies. I've been assured that I won't lose my job. I guess my main concern would be the price of home insurance which I understand lenders prefer, if not, require you to have?

Thanks again

If the property is mortgaged then you must have buildings insurance on it: not to do so would be a breach of the terms. Contents insurance is optional-but you'd be crazy not to.