Precise Mortages - bad credit

RRS1999

Hi there - was wondering if someone can please advise on my chances of getting a mortgage with Precise - I have a DIP accepted and the broker that I'm using is confidient that it will be accepted.


We currently have a house sold and will come out with 30k - we are going through the help to buy and the mortgage is going through precise due to the CCJ listed below.


Salary Joint 60k
Debt £100.00 a month car loan - Credit cards are not used
Defaults None
CCJ Nov 2018 £4.5k - currently paying £100 a month but will pay it off from my house sale


Can some please advise on what my chances are ?

RRS1999

Please can someone advise...Another sleepless night


Solicitor fees and now developer wants money for carpets and flooring and we have not yet been approved by Precise

Thrugelmir

The only question that arises. Why only a £100 a month to repay the CCJ. Appears that you prioritising other outgoings over clearing your debts. Asked rhetorically I should add. As reflects on you both as potential borrowers.

RRS1999

The plan is to repay the CCJ in full with the proceeds of my house sale, We have £10k in savings do you think it's worth me satisfying the CCJ now ? The application with Precise is already in ?

Jane.1963

RRS1999 wrote: »

The plan is to repay the CCJ in full with the proceeds of my house sale, We have £10k in savings do you think it's worth me satisfying the CCJ now ? The application with Precise is already in ?

Speak to your mortgage advisor, they are the best people to advise (my opinion)

MsGeorge88

Have you checked Precise's criteria online? Does you situation match their criteria?

Your mortgage adviser wouldn't have placed you with them if they were not confident you're case wouldn't suit.

The waiting for a decision is stressful, but try and remain positive. when did you submit your full application?

[Deleted User]

I had one go through with a CCJ from 3 months prior to application for an amount higher than yours. And they werent paying anything towards it or clearing it

Precise can be a bit of a nuisance with bank statements so if they are clean enough then you should be fine

RRS1999

It was sent over on Tuesday - The MA is confidient, as you say the MS wouldnt put us forward if they was'nt confidient with the outcome. We got a DIP and when applying for the DIP we added the CCJ to precise so there's no hiding from it and Precise are fully aware and agreed the DIP

Jane.1963

I got a DIP with Precise, they knew all the info regarding my bad credit history and we had a big deposit.
Our bank statement (they asked for 3 months) showed 1 late payment (not missed) I explained it was a direct debit that had changed sooner than expected but they refused us.
To be fair my advisor wasn’t great (in my opinion)
New advisor now so here’s hoping.

RRS1999

HI There - Thanks for the guidance - What do you mean in clean bank statements ? we use are bank card for everything very rarely use the cashpoint to take money out - so there is lots of transactions on there - All the bills come out of it also - never overdrawn but just a lot of in and outs

Thrugelmir

RRS1999 wrote: »

The plan is to repay the CCJ in full with the proceeds of my house sale, We have £10k in savings do you think it's worth me satisfying the CCJ now ? The application with Precise is already in ?

The answer is subjective. Precise will assess your application as it's presented.

If a friend borrowed a £100. Then started paying you back at £3 a month after some considerable delay. While having considerable savings. What would you think of the friend? Would you wish to lend to them again in the future.