URGENT HELP NEEDED! MORTGAGE vs CCCS PLAN!

norserose

Hello,

I've also posted this in the mortgage bit, so apologies if you've already seen it!

I'm currently on a debt management plan with the CCCS - but am hoping to be able to sign on a joint mortgage with my boyfriend. The meeting's tomorrow, but it's dawned on me that it may affect my repayment plan, which I can't afford to jeopardise. I don't know if it will, but I dont want to take on a mortgage and then be told when they reassess in 6months that I shouldn't have, and be forced to go bankrupt and lose the house.

Anyone got any thoughts? I'm trying to contact the CCCS to ask them direct, but I'm having no joy with their number at the mo, permanently engaged. Any advice appreciated!

angelatgraceland

If I was in your shoes there is NO WAY I would be taking on a mortgage! Sort out your debts first, pay them ALL off, save a DEPOSIT-then get a mortgage! Sounds harsh advice but Im being honest!

Xbigman

How the hell did you manage to get a mortgage offer whilst on a DMP? (no insult intended here, just surprized). If you actually have an offer with your name on I'd be fascinated to hear all the details.
Regards




X

ceegee

:eek: :eek: A mortgage? Whilst on a DMP? :eek: :eek:

For Pete's sake get your existing debts out of the way first!

Blimey....scary or what...............? _pale_

eurows

Is there no end to people madness.

norserose

eurows wrote:

Is there no end to people madness.

Cheers for that constructive advice!

Just to establish a few details;

*yes, have been approved for a joint mortgage with my boyfriend. Dunno how, suspect is more to do with his good credit.

*the idea is that the house is also mine in name, as will be paying the mortgage, but it is set up in such a way that it doesn't depend on my income in the slightest.

*if I wait til my debts are out of the way, that'll be 10 years. We're moving house anyway, and it's just a way of making it more our house than just my boyfriend's.

Is that such madness? Am I missing something?

Xbigman

If your bf has the income to cover the mortgage and your budget is unnaffected or improved by this then I would be inclined to go for it. There are a few points of caution. If you have any large debts (more than 5000 definately but much over 3000 is dodgy), then be aware these debts could become effectively secured against the house. Also, how secure is bf's job.
Regards



X

norserose

Cheers for that Xbigman!

Well, is all signed and sealed now - so fingers crossed! I think that, worst case scenario, we can always have my name taken off the mortgage- not ideal, but if anything goes hellishly wrong, it's an option. As for bf's job, he's got a very stable career in an industry that will never be short of work, so that makes up for my rather more unstable income. But thanks for the constructive advice - you've made me feel a bit better about it.

tattooed_lady

Hi Norserose,

Keep trying to contact CCCS cos I think you are not supposed to take on any more debts while on a DMP with them. See what they have to say. All the best.