Joint mortgage, combining finances with partner with bad credit history

Leese

Hi all,
Me and my partner are currently getting plans drawn up for an extension on our house. The mortgage is currently in my name only and I think we will need to remortgage jointly to finance it. However, my partner has a really ancient CCJ floating around. It’s probably 15 years old and unpaid. 

My partner’s credit rating on Experian is “fair” and mine “excellent.”

What is the likelihood of us being about to remortgage together??
Thanks for any insight you can give 

K_S

@leese A 15 year old CCJ on its own is not likely to be an impediment. That is assuming that your partner's more recent credit history is clean.

ACG

A 15 year old CCJ would not be showing. A credit report only shows the last 6 years. 
Are you sure that is the only problem? 

Leese

K_S said:

@leese A 15 year old CCJ on its own is not likely to be an impediment. That is assuming that your partner's more recent credit history is clean.

Yes nothing showing on their credit report. All old defaults etc were paid up and now have dropped off the record anyway. They have got a “proper” credit card, phone contact, on electoral role etc.

Leese

ACG said:

A 15 year old CCJ would not be showing. A credit report only shows the last 6 years. 
Are you sure that is the only problem? 

No it does not show, but it is still “out there” as I understand CCJs are different to other kinds of debts. It won’t ever be written off as such.

MovingForwards

After all this time they would have to apply to the court to enforce the CCJ and have a really good reason for not doing so within the first 6 years, it's highly doubtful a court would grant permission.

With the unsettled defaults, 6 years of no communication or payment means it's statute barred.

Find a good broker, advise them of the prior issues and which financial institutions they were with and they will make sure they don't try and place you with them; internal records are kept a lot longer than what shows on the credit reports (I won't ever apply to anyone I had financial problems with before).