Highstreet mortgage possible with adverse

Shay10

Ok so me and my wife are hoping to apply for mortgage ourselves with a highstreet lender in March.  We spoke to mortgage advisor and she said she charges upto 1000 pound for adverse mortgage so hoping to try by ourselves and going direct. I have read on here about people being successful with ccjs even high amounts getting a highstreet mortgage.  My wife has a satisfied ccj for 3400. It's been satisfied for only 8 months and it is nearly 5 years old. My credit history is clean no late or missed payments.  My wife's would of been clean if it wasnt for this ccj she has. She also has no late or missed payments.  Also we have no debt as we have just payed my credit card off and also my wife payed all hers off last year. Anyway we have a 15% deposit and house we have seen is 120k so hoping we can borrow 102k. My credit score is on 949 and wife's is on 879 even with ccj. We did get a dip with a highstreet lender last October but it has ran out now . I'm in two minds if I should go with a broker or apply direct just wondering if you can actually get a high street mortgage with my wife having a high ccj. Dont really fancy paying 1k but know I will have to so we can get a mortgage. 

ACG

There is potential yes. It is not a definite and it will not be for every lender. 
Despite my job, I completely understand your view and it is easy for people to sit here and spend your money, but there is another view - what happens if you try one or 2 lenders and get declined? You may then have scuppered your chances of getting a normal mortgage.

The other thing is that some lenders websites can be "manipulated" to some extent (legitimately). I have a really good example where a customer of ours went to a different broker before speaking to us. The customer had some mild adverse and the broker went to the same lender I would have... They were declined. We picked up the case and had it accepted less than 2 weeks later with the same lender. Experienced brokers can be the difference between being accepted or declined, I am not saying brokers are magicians but if you are borderline, we cant be the difference. 

Branch staff it is a job, their income is the same regardless of whether your case is accepted. A broker gets paid if you get your mortgage, I am sure most brokers are not the mercenary types but even if for different reasons they still want the same outcome as you. 

Shay10

Thanks for your reply.  The thing is we are scared of getting declined.  We are desperate to move house and we are first time buyers.  We have saved so much I mean we have cut back on things and limited our spending just so we can have the deposit.  I want to go direct but I'm thinking I might go to a broker just to put our minds at ease of getting a decline. Is 1k reasonable to pay for a broker or should I look for a different one? This broker was even charging to get a dip and then the rest when we have an offer which put me off as I got a dip myself and which made me think even if they got us a dip it's still no guarantee for a mortgage and I would of still had to pay for that when I can get a dip myself.

MFWannabe

If you’re scared of not getting a mortgage I would suggest you use a broker; especially one that deals in these cases; such as the one who has commented on your post? 🤔
Brokers aren’t allowed to contact you but you can contact them 😉

ACG

When brokers charge is down to the broker and customer.

We charge on full offer (it seems too much hassle charging on DIP and then offer), some charge on application, some charge on completion and some do not charge at all. It sounds like your broker is splitting the fee up to different stages, as for whether or not that works is down to you to decide. 

Shay10

Thanks will probably contact you nearer the time. I'm currently on 100%furlough but my work have said my job is 100% safe. Was hoping we are back in march and the lender said they only wanted 1 wage slip anyway and I'm payed weekly so was hoping once I have been there a week I can use that wage slip as the lender I'm hoping to apply with have said you have to be back at work before you apply.