Anyone mortage companies what offerd mortgages with 2 satisfied ccjs with 5% deposit

Strizy123

Does anyone know before the lockdown what companies would of dealt with me having 2 ccjs and a 5 percent deposit 

MovingForwards

How old are the CCJs?
Are they settled or still outstanding?
How much are the CCJs?
What are the CCJs for eg phone, utility bills, parking charges or failed credit commitments?

I'm not aware of an adverse lender who did 5%, usually starts from 10% due to the risk of lending to someone with adverse credit.

Strizy123

One is 3 years old what is satisfied was a family despute totall was 5 grand
Seccond was a parking fine what is 1 year and 5 month old total of £270 what is also satisfied 

onlyfoolsandparking

I'll assume you don't want to get your parking fine (again NOT a fine lol) set aside and then go onto getting the judgement removed? oh well I tried, good luck with getting a mortgage!

RelievedSheff

I think you will struggle with the 5% deposit.

We got a mortgage this time last year with a 10% deposit 1 satisfied CCJ for £250 from 2016 and one unsatisfied for £450 from 2014. But it was a struggle to get a mortgage at that time with these CCJ's and a 10% deposit. Lenders have tightened up and I suspect given the current climate you will struggle to find a lender willing to lend you the money with a small deposit.

MovingForwards

RelievedSheff said:

I think you will struggle with the 5% deposit.

We got a mortgage this time last year with a 10% deposit 1 satisfied CCJ for £250 from 2016 and one unsatisfied for £450 from 2014. But it was a struggle to get a mortgage at that time with these CCJ's and a 10% deposit. Lenders have tightened up and I suspect given the current climate you will struggle to find a lender willing to lend you the money with a small deposit.

My mortgage offer required a 15% deposit, satisfied CCJ from 2015 and for slightly less than £5k, a few defaults, I don't like to say the interest rate and try not to think about it.

But when I complete, it means I have my own home.

It's a case of looking at the bigger picture, speaking with a broker and them saying what deposit was required pre-Covid and what's available / required now as no-one can say what will be the requirements post-lockdown. Working towards it and hoping everything matches.

RelievedSheff

MovingForwards said:

RelievedSheff said:

I think you will struggle with the 5% deposit.

We got a mortgage this time last year with a 10% deposit 1 satisfied CCJ for £250 from 2016 and one unsatisfied for £450 from 2014. But it was a struggle to get a mortgage at that time with these CCJ's and a 10% deposit. Lenders have tightened up and I suspect given the current climate you will struggle to find a lender willing to lend you the money with a small deposit.

My mortgage offer required a 15% deposit, satisfied CCJ from 2015 and for slightly less than £5k, a few defaults, I don't like to say the interest rate and try not to think about it.

But when I complete, it means I have my own home.

It's a case of looking at the bigger picture, speaking with a broker and them saying what deposit was required pre-Covid and what's available / required now as no-one can say what will be the requirements post-lockdown. Working towards it and hoping everything matches.

We were lucky at the time that Kensington were offering mortgages with a 10% deposit on new builds. Not a lot of lenders, especially adverse lenders, were offering those deals at the time.

As you would expect we didn't get a great rate, 5.19% at a time when mainstream lenders were sub 2% but like you we looked at the bigger picture and secured the home we had fallen in love with and the rate is only for 2 years, 1 year of which has already gone by. Hopefully this time next year we will be able to remortgage to a mainstream lender and get a better rate although that very much depends on what happens with house prices in the meantime. Luckily they had risen here in the last 12 months so we have a bit of an extra buffer.

MovingForwards

@RelievedSheff my rate is slightly higher, I've gone for a 5 year fix and I get a whole property for not much more than I'm paying in rent for my shared flat.

I've worked out my ERCs, so after a few years can potentially look to remortgage as it would still be a saving, if no remortgage available at that time, can keep waiting another year until I get to the point I can. My plan is go straight to mainstream, whenever that will be, getting this far has been stressful enough.

Also, I've my great overpayment plan and know the figure I want to get my mortgage down to in readiness for remortgage.

Again, it's the bigger picture, which OP needs to focus on and find a good broker!

Dreamingandimpatient

I had one satisfied CCJ (£345) 2016 and a default from 2015, my husband had two defaults from 2013 (so on the cusp) and one from 2017.  We had a fab mortgage broker, got us a great deal with a fab rate with Nationwide.  It is possible - get a broker as MovingForwards said too.

Strizy123

What was your deposit 

Strizy123

RelievedSheff said:

I think you will struggle with the 5% deposit.

We got a mortgage this time last year with a 10% deposit 1 satisfied CCJ for £250 from 2016 and one unsatisfied for £450 from 2014. But it was a struggle to get a mortgage at that time with these CCJ's and a 10% deposit. Lenders have tightened up and I suspect given the current climate you will struggle to find a lender willing to lend you the money with a small deposit.

We have now got a 10% deposit who's it with please