Credit adverse 24 October 2022 at 1:13PM in Mortgages & endowments 3 replies 262 views

magpies79

So just wanted some advice appreciate it nobody can know for sure but just could do with some advice on if I’m going about this the right way.
so have a settle ccj which was for £2,600 has 10 month left on file then 6 years is up last missed payments on Credit file was jan,feb,Mar and then April 2019 after that no missed payments at all.

i currently have 6k of debt across a loan and some credit cards now over paying on all cards and loan finishes jan next year plan was hopefully clear all debt by the time CCJ falls off and look to selling house and buying a new one i’m currently with Halifax house valued at around 180k have 30k left to pay 5 years left on mortgage.

About 3 years ago I did apply for a mortgage with Halifax but was turned down but did say at the time was best to at least try to settle CCJ first then try again

 I’m 43 and earn 32k a year again appreciate It pretty basic information but is this the best idea if we want to get a house for around 250-270k wife earns 40k however they are recent missed payments no debts. 

Thanks 

ACG

What do you mean by this?

owever they are recent missed payments no debts. 

There is no mention of what late payments. A status 4 on your mortgage is different to a status 1 on a credit card. 

You have a house valued at £180k with £150k equity. If you are looking at buying for £270k and putting down say £100k plus deposit, you are not going to have a problem. It will come down to the rates, and that will be determined byt he late payments. Could be normal (whatever normal is at the moment - 5.5%ish) but could be closer to 7%. 

Get your report over to a broker, but I think you will be fine. 

magpies79

AGG thanks again as you have replied a few  times giving advice always appreciated.

well I think I need to sit down and speak to her I get the impression she’s paying credit card payments late by a few days at a time down to what I can only assume is down to bad money management as she has the funds but doesn’t pay by direct debit and will forget to pay which is annoying because I don’t think she understand the damage she is doing. 

For me is been a slow process as I’ve had 2 ccj and a default but all paid off now and just have 10 months left of a paid off ccj on my file everything else is good will the missed payments in 2019 cause me issues we fell behind on mortgage payments and had a payment arrangement in place to catch up which is why I have 4 markers in 2019 
thanks 

ACG

If it is a day or 2 late, it may not even appear on the credit report. 
When I used to work for a bank (in the credit card department), we would only report to the credit agencies once a month. If there were arrears on that day, it would show up. If not you were fine. So in theory you could pay up to 29ish days late and it would not show. 

But that was about 15 years ago, so I imagine a little has changed since then.