Mortgage with poor credit & CCJ

elwolfio

Hi looking for a bit of help and guidance on my situation wondered if anyone can advise best course of action.

As a result of previous marriage and subsequent divorce i have bad credit (Missed mortgage payments due to ex wife not paying mortgage despite living there) i also have a CCJ (satisfied ) Nov 2020.

I've Subsequently remarried last year my wife has a property in her name from previous marriage Value 360-400k - 100k mortgage in her name.Wife has Excellent credit rating.

I have also sadly lost my mother and am awaiting probate for her estate  - property approx 240k (My share 50% in will)

Salary i earn 96k p/a Wife 50k

What options do we have for moving.

Ideally we would like to move for house to property in 450 - 550 bracket.

Is there any possibility of us applying for joint mortgage - my credit rating Fair currently. 

If not is there any way for her to apply and add my income?


Thank you

ACG

You should be able to overcome all of the adverse with a joint mortgage.
I think the bigger question is what the rate looks like. I think you might be able to get near normal rates with a 30% deposit but its not a given. 

Worst case scenario you might be looking at rates of around 7-8%. 

One for a broker though I think. 

Caz3121

OP - have you spoken to a broker as suggested on your previous thread?
https://forums.moneysavingexpert.com/discussion/6434181/mortgage-advise-with-poor-credit#latest

elwolfio

Ok thank you

No not asked a broker yet - Obviously situation has changed since losing my mom few weeks ago.

Ultimately i'm trying to gauge if its possible to get my name on the mortgage and use my income or would it be more detrimental  

amnblog

Then, when you are ready to do so, ask a Broker, that is the route.

In the meantime, make sure you have a full up to date credit report to hand. Plus confirmation of settlement of the CCJ, and any information you have on the previous mortgage arrears.