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    • jagger86
    • By jagger86 18th Mar 17, 8:30 PM
    • 71Posts
    • 8Thanks
    CCJ and remortgage
    • #1
    • 18th Mar 17, 8:30 PM
    CCJ and remortgage 18th Mar 17 at 8:30 PM
    Just after some advice on our options - we are due to remortgage in June as have been on a 2 year fixed deal. However since obtaining this mortgage my husband has gone and got himself a CCJ and 4 defaults. (Yes he is an idiot but had a gambling problem and is now getting help)

    I have no problems on my credit file or late payments, aside from the fact I am financially linked to him with a joint mortgage and joint current account. Our personal household bills and mortgage payments have always been on time as I am in charge of those. His CCJ is from The Fairtrade Practice as he had some PPI money and never paid them their fee and then the defaults are from his mobile phone bill, a car on HP and two credit cards.

    He also owes family and friends a total of 10,000 and as you can imagine they are keen to get their money back. We have equity in the house (about 40k) however what are the chances of being able to get 10k of that with him having a CCJ and the defaults?

    Is there any hope or not would we be wasting our time seeing a mortgage advisor / financial advisor? I am on maternity leave at the minute so the whole thing is very stressful and money is very tight so don't want to waste money unnecessarily on an advisor if there is no chance. Any advice please
Page 1
    • glosoli
    • By glosoli 18th Mar 17, 9:04 PM
    • 673 Posts
    • 391 Thanks
    • #2
    • 18th Mar 17, 9:04 PM
    • #2
    • 18th Mar 17, 9:04 PM
    Will likely be very difficult with four defaults and a CCJ in the past two years to be honest with you. I presume these have all been paid off in full?

    You should still be able to select a new product with your existing lender without going through new checks though. You don't say what your loan to value is or current interest rate but could it be an option to say fix for a period of time on a lower rate of interest, and take out an unsecured loan for the same period of time as the fixed and use the savings to repay the loan?

    It still might be worth having a chat with a broker though.
    • jagger86
    • By jagger86 18th Mar 17, 9:42 PM
    • 71 Posts
    • 8 Thanks
    • #3
    • 18th Mar 17, 9:42 PM
    • #3
    • 18th Mar 17, 9:42 PM
    Yes we are currently with Santander at 3.49% and I did read that to renew with them we wouldn't be required to go through further credit checks. Would we get a bad rate when renewing because of the issues?

    I am not sure how to work out LTV but our house is valued at 160,000-170,000 when we bought it but we need to get a further valuation as done some work on it. Our current remaining mortgage is 132,000.

    How would we get an unsecured loan though with adverse credit?

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