mortgage query

maggiesasha

Hi

I was wondering if anyone has any advice on the following:-

I myself have a CCJ against me from 2years ago and I applied for a voluntary administration order to prevent further, although I am nearing the end of ths my credit rating is not very good. However my partner has a good credit rating and always has.

We are hoping to apply for our first mortagage in around 6 months and would have saved £5000 towards a deposit. Would I be allowed on the mortgage with my bad credit history(although it is history and since the order I have never paid anything late and managed my affairs well) and if not would paying my salary into my partners account every month, which would boost his annual income by £12000 to £28000, increase the amount he would get on a single application. - HELP!!!??

lisyloo

Would I be allowed on the mortgage with my bad credit history

Probably, but you may find you need to go to a "sub-prime" lender who will charge you more for the risk. You should get advice from a broker, they deal with this all the time. Just be clear on their charges.

and if not would paying my salary into my partners account every month

No this won't work.
They are interested in salary on payslips.

I am not necessarily sure this is advisable anyway.
I know you probably trust your partner but you are opening yourself up to big problems in the event of a split if you simply hand over all your money and don't get on the mortgage (and hence the deeds).

herbiesjp

HOw much was the CCJ for and what was the reason - not sure if you want to answer on the board as it is personal information

Rob_M_2

Why not pay off your CCJ out of your £5000 deposit and apply to the County Court where judgment was entered for a 'Certificate of Satisfaction' (costs £10.00). The judgment is still not removed from the Registry but is marked as 'Satisfied' and I believe that lenders are okay with this. You may save overall by not having to go to a high interest lender.
Rob

maggiesasha

Hi

The CCJ was for less than £1000 and it was a catalogue or store card but I cant remember the exactly as it was a while ago now. We are just worries about refused by the bank and not knowing what to do then without getting ripped off.