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Mortgage rates with CCJ
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Newheight13
Posts: 237 Forumite
Could anyone tell me what mortgage rates would be with a 25% deposit, satisfied CCJ 5 years old and a missed store card payment 2 months old please?
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Comments
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Potentially as low as around 2.5% on a variable rate.
You may be able to get a fixed rate at around 4.5%ish. But worst case scenario could be around 5.5-6%.
Tricky as it is one of those situations where it is borderline and the devil will be in the detail.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you. Would I be better to wait until the CCJ drops off, or would it not make much of a difference with rates likely to increase by next summer?0
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Thats not really a question I can answer. Without a crystal ball, who knows.
Its one of those things where you need to decide if you want to take the risk now or wait.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Does the CCJ and missed payment change the interest rate dramatically or are the rates mentioned above what I could expect at this moment and time regardless? Thanks0
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Those are sort of best and worst case scenarios now.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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