Ccj mortgage

[smileyhappypeople]

Has anyone successfully managed to get a mortgage with a ccj?
We ended up with 2 ccjs last year (old debts from
When dh lost his job) but they caught up with us. Solicitor who was seeking them gave us the wrong advice and so they went through as ccjs.... We pay them monthly. They are for fairly large amounts, just over £1000 each. We are fist time buyers with a 10% deposit. We spoke to an online mortgage company who deal with bad credit a little while ago and he said they wouldn't even look at it for a least year... So now we are over the year and we have an appointment Monday with a mortgage adviser. I'm trying not to hold out to much hope and preparing for bad news but would be nice to hear if anyone has been successful and if there was anything you had to do to get there?

[northernmonkey1010]

I'd too like to know the answer to this

[rallytog1]

Hmm, with the best will in the world I think you might struggle. There are providers who specialise in mortgages for people with poor credit history, but they'd generally want you to have a larger % deposit. Having said that, there are no hard and fast rules as different lenders will have different criteria, so it's definitely worth finding out.

Could you use some of the deposit you've saved to pay off the CCJs? That might make you more attractive to a lender.

Good luck - I hope someone will be able to help you.

[rallytog1]

If you look on the money-savingexpert forums there is often lots of good advice for people in your position and you may find more experiences from people who've applied for mortgages in similar circumstances.

[confusedlilly]

We did it. My dh had a ccj from a long time ago, and it was only for £300 something he had forgot about and we paid it in full when we found out. It had been on his file for 4 years when we applied for our mortgage we went through a special lender and our interest rate is slightly higher than the high street. We also had to put down a min 15% deposit.

Also it wasn't done on credit searches. For me it was as I have normal credit. But it went to underwriters so was a lengthy process and they wanted everything from us, a lot of bank statements etc to make sure we weren't in more debt and could afford everything.

[smileyhappypeople]

Thankyou everyone. I'm hoping that we would get chance to be considered by underwriters if nothing else.
The amount of mortgage we are wanting is almost half of what we can afford based on those calculator things on banks etc. So hopefully that will go in our favour along with the fact that we have paid rent for 12 years, never missed a payment and lived in our current house for 2.5years and absolutely everything is paid etc and we have never missed any payments. We have also taken no further credit except for our car about 2 years ago.
And even based on 7% interest which is, we have been told, the maximum they can charge. The monthly payments will be less than we pay in rent.
We are in much better much more secure jobs now too!
So fingers crossed they will take all of that into consideration!

[HandbagFan]

90% LTV requires an excellent credit rating. I don't want tor win on your parade, but two CCJs just over 12m ago isn't a strong record. They don't look at how much rent you currently pay or how long you've paid it for. They look at how sure they are that you'll pay them the money back on time. If you've had debts, lost at court and not cleared the debt within 28 days after the court judgement, it suggests you won't pay them back the monthly amount as prescribed.

Not trying to be a bitch, just warning you to expect a battle. It's not about you as individuals, it's about the risk profile and banks cherry pick applicants.

[gonzo155]

You'll most likely need a bigger deposit and need to wait longer, a recent CCJ doesn't show you've sorted things out.