mortgage with a ccj

[makecaker]

we are wanting to apply for a mortgage but i have a ccj. I know everyone probably says this but it really wasnt my fault. a previous employer overpayed me by £1500 then wanted it back 3 years later! but we had moved house, they couldn't contact us so filed for ccj. i have only recently paid the ccj off but i got it about 2 years ago.
so my question is have any of you been given a mortgage even though you have a ccj? will i have to wait 12 months after i payed it off? will i have to get mortgage through a company that will charge us an astronomical amount!?
we are going to buy my dads house at quite a discounted amount so in effect we will have a good sized deposit

 

[My_First]

Honestly? No, not until the CCJ is paid off. You may with a guarantour, but you will pay stupid rates. Plus it doesnt drop off your credit report for six years, but you may well be able to get credit before that.

Also you may have to be a bit careful about buying massivly under the valuation as HMRC will want stamp duty and may see you as avoiding that or avoiding inheritance tax. I suggest chatting with a solicitor.

 

[pandaspot]

Honestly? No, not until the CCJ is paid off. You may with a guarantour, but you will pay stupid rates. Plus it doesnt drop off your credit report for six years, but you may well be able to get credit before that.

Also you may have to be a bit careful about buying massivly under the valuation as HMRC will want stamp duty and may see you as avoiding that or avoiding inheritance tax. I suggest chatting with a solicitor.

Hi

Sorry for jumping on this post, me and my oh want to get a mortgage my last default is off my file in November and he has a ccj which has been settled for last 2 1/2 years but still has 3 1/2 years left on file. What would be the chances for us? The property is only £35,000!! And we can give over a 10% deposit

 

[My_First]

I would not like to say what the chances are, but even in this market place 10% is considered a low deposit, and mortgage companies have to weigh up the risk. With you both having had defaults it would be unlikely right now, unless you have managed to build up your credit rating. Talk to an IFA they can give you better advice than me. Have you looked at experian/equifax reports to see what your score is?

 

[shopgirl771]

youll find lenders may consider u from 2 years of the recorded date of default/ccj as long as its settled and the rest of ur credit file looks healthy.

were in similar situation but weve resigned ourself to the fact we cant do anything for 2/3 years now and even then well probably still need to pay a premium for a sub prime mortgage.

its annoying as i have inherited money and have a fantastic deposit

 

[pandaspot]

We are going to see a mortgage advisor on Friday to see what we can get. We checked oh credit file last night and the ccj is marked as active yet it's been paid off, I wonder how important it is that it's marked settled? If it is important then we will apply to court to get this done


Also has anyone any experience with shared ownership properties?

 

[shopgirl771]

We briefly looked at shared ownership but were told by the mortgage advisor for the housing provider that it's harder to get a sub prime mortgage with shared ownership as they only use a handful of lenders so it very limited.

 

[Abz1982]

We briefly looked at shared ownership but were told by the mortgage advisor for the housing provider that it's harder to get a sub prime mortgage with shared ownership as they only use a handful of lenders so it very limited.

This is our situation. Basically, Halifax is our only option. OH had a defualt and and an arrangement to pay and we have been told we can get a mortgage, but 85% will be the max we will get.

 

[pandaspot]

We were told by the advisor that it is possible to get a mortgage now but it would be 75%. If we wait till November then it's £85% so we are waiting and seeing where we stand then, my default will be gone then too, so thinking of taking one in my own name to start, see if we can get a 90/95% mortgage and then remortgage in a couple of years do add partner on