Alone & had enough!!

sira_2

I'm not managing on the DMP at all but at the same time don't want to reduce it in fear that the debtors will add more CCJ's then we will never get a new mortgage. We wanted to sell now while there is alot of equity in our home renting seemed the best option as the property market is going down and we would be in a good position in a year to buy again. Have thought about porrting our mortgage and going on a interest only rate saving us about £250 per month, sounds perfect but just know they will do a credit search and refuse us but i suppose it would do no harm intrying or would it, especially if we end up staying here, once they know we have problems is this going to affect our current mortgage, it's all such a mess. Hubby doesnt say much at all if i get stressed he gets stressed if i lose it with the kids he loses it with the kids if i get upset he gets upset so i really never get much of the right support although i know he does love me and wants to support me but he doesnt know how to because he cant cope with it himself. I used to hide the problems from him because the one time i did tell him he completey fell to pieces and has had problems in the past with his heart so i'm very cautious. At the end of the day i have to sort this and get us out of it just dont know how!

rayday2

Thing is the other way of looking at it is, if you do stay where you are with a mainstream mortgage lender what is the problem with more CCJ's? they too fall off your history after 6 years.

I think you are in a bit of a panic and everything is feeling "Huge" take a deep breath and think through the alternatives and we will try to help.

It was honorable trying to sell your home to sort things out but now its looking like its not the best idea what is important is less stress and a roof over your head.

Give CCCS a ring tomorrow and keep chatting through options with us but please calm down, I know its easy to say on the outside but if you can clearly put your ideas down maybe we can help a bit more construectively.

Gemmzie

Okay sira, you say you're not managing the DMP well at the moment - why is this? Are the payments too high? We can have another look at your budget for if it'd help you. You should probably do this with hubby too - find the time when the kids aren't around to sit and talk.

pania

Hiya Sira..

So sorry to hear of your problem and it is one that is affecting more and more people nowadays. You're not alone!!!! Firstly have you exchanged on the sale of your house yet? if no then it's not too late to pull out if that is the best course of action for you, If yes then we need to sort this as pulling out is not an option...
There are mortgage lenders that would consider you with the ccj but as you say the interest rate will be higher then usual. what is your house worth and how much of a mortgage will you need (if you don't mind me asking..) big hugs and keep on keeping on, snuggling up in a warm place and not waking up is simply not an option so stick with us and we'll see you through.
Lots of love
xxx

sira_2

Think i need to try and get some sleep, had very little over the past few days, and come back tomorrow with answers to your questions. We have to mortgage advisors ringing us tomorrow with answers to whether they can get us a mortgage and what the repayments will be at least then i can say it's definately a no no to buying and with your help look at other options. Our local newspaper is also out tomorrow and you never know there maybe a house to rent. Thank you all so much for being here for me tonight still bawling my eyes out but not feeling so alone xxx

pania

you ARE NOT alone when you are here hon, PM me any time you need some help...

WOrd of advice do not let loads of mortgage advisors carry out credit checks as it will adversely affect your credit rating.. Pick one, good, independant and free of charge advisor that you trust and stick with them. If they can't get you a mortgage NO independant advisor can.
Lots of hugs. xx

sira_2

Thanks Pania i am so glad you have responded as i was looking for you. I have gone to Charcol for advice also another independant broker. We need approx £130,000 mortgage and plan to put down £20,000 of our own money. We will be able to clear our CCJ and hopefully all our other debts too. We pay £866 currently and definately can't afford anymore. We dont mind going on an interest only mortgage for the time being until we get ourselves settled. Charcol were encouraging that they could help us with this and also get the amount payable fixed for 2yrs but waiting for a call back. I know it's not a good idea to have too many searches but we though if we had two advisors checking for us if it comes back bad news then at least we've done all we
can and too be honest and credit rating it shot to pieces now. We only have one other default each. What do you think our chances of a current mortgagees Mortgages Plc porting the mortgage , it is portable, just not sure how they'd feel with the CCJ?

rayday2

Also one question to ask is, is it LIBOR rated, if it is this means interest rates do not go on bank of England they go on the money market where banks go to buy money and at the moment this is very expensive and still rising.

Definately something to try to avoid.

Take care be thinking of you tomorrow!

pania

mortgages plc are an adverse lender hon so the CCJ shouldn't be too much of an issue. usually unsatisfied up to £1000
Their rates aren't the best in the world but worth speaking to them.
Also bear in mind that if you are reducing the mortgage amount they may charge you a redemption penalty on the amount you are reducing it by if you are on a fixed rate.
Please bear in mind hon that anything i say to you can only be opinion as i don't know youre circumstances to give specific advice. xxx

rayday2

If you do go for the mortgage and moving option you must not sign contracts until you have a mortgage offer, that is the essential bit to remember.