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moving house with ccjs?

(3 Posts)
stridesy Sun 07-Jun-15 23:46:22

In 2008 my oh was made redundant and racked up about 30000 in debts and a few ccjs.
We currently live in a 2 bed flat.we are both working in ok jobs and I want to move to a small house.we paid 140000 for our property and it's worth 210000 now.how realistic am I being?and how much capital do we need for a place worth 250000?

Rockchick1984 Mon 08-Jun-15 00:15:09

When did he finish repaying the debts? The minimum you would need to have is £25k for a £250k property but the more you have the better the interest rate would be.

Bearbehind Mon 08-Jun-15 06:20:40

The CCJ's will not show on his credit file after 6 years so if they were issued in 2008 they shouldn't be visible to a lender.

Your wording is quite vague- when you say he 'racked up about £30,000 debts' it's not clear what then happened-did he actually pay the £30k back?

If so, and if the CCJ's are over 6 years old they won't be an issue but obviously your mortgage application will be subject to the usual affordability checks.

If he didn't pay it all back then it's a whole different situation.

It is possible to get a 95% mortgage (rubbish interest rate though) so the minimum deposit you'd need is £12,500 then you'd need stamp duty, estate agent and solicitor fees, removal costs etc.

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