Mortgage with CCJ's and Recent Late Payments

macfan21

Pretty sure I know the answer to this but thought I'd get some opinions before making formal enquiries. 

I've got 4 historic CCJ's on my credit report with the most recent one being 4 years ago. All satisfied now. I also have some recent late payments on a mortgage of a property I'm looking to sell. My initial plan was to sell my house and rent someone until my credit file heals, but just wondering what the chances of another mortgage are.

If I sell my house, I will have around £130,000 in cash released from the sale, plus £20,000 I have in savings. Do you think there's any chance I would manage to get a £50,000 mortgage with my credit history as it is, given the amount of cash I will have as a deposit?

K_S

@macfan21 4 satisfied CCJs with the most recent one being registered 4 years ago and looking to borrow at very low LTV, those shouldn't stop you.

The recent mortgage arrears may be more of an issue. How recent are they, are they on your current residential mortgage and what was the maximum status on the report?

macfan21

K_S said:

@macfan21 4 satisfied CCJs with the most recent one being registered 4 years ago and looking to borrow at very low LTV, those shouldn't stop you.

The recent mortgage arrears may be more of an issue. How recent are they, are they on your current residential mortgage and what was the maximum status on the report?

Most recent 'missed' payment was 4 months ago but I am appealing that as it was sent from my bank on time (also Halifax) but reached the mortgage account a day late. Shows on my mortgage statement as received on 2nd Feb and was due on 1st Feb. Credit report shows feb as 1 missed payment. 

The maximum status was 6 'missed' payments but this was when I was on a payment holiday due to Covid which I have already queried with Halifax. Got to wait up to 2 weeks to hear back from them.

K_S

@macfan21 If those status 6 markers on your mortgage account are an error on the part of Halifax, you would be best off getting those corrected on your credit file before trying for a mortgage.

macfan21

K_S said:

@macfan21 If those status 6 markers on your mortgage account are an error on the part of Halifax, you would be best off getting those corrected on your credit file before trying for a mortgage.

Thanks, I contacted Halifax this morning and they are investigating the markers on my credit report and are getting back to me in 7-10 days, hopefully with some positive news. 

If the worst comes to the worst, I’ll might just have to wait until the impact of the so called missed payments lessens.