Adverse mortgage help or advice?

[calibrator]

Seems I'm poison to the mortgage companies, and truthfully I don't know why I'm such bad news.

Please, really need help if there is anyone out there?

 

Saw house, fell in love.

For sale at £195k

seller accepted an offer of £170k

On sale for a while and it does need work.

Salary is in excess of £70k

 

Loans total £300 per month, as do two credit cards.

Never been as much as a day late on any of them, that's in over 4 years.

 

Default in July 2015 for utility company, I was in dispute with them regarding charges that didn't apply.

CCJ July 2017 for £1,400.00 paid in full December last, zero balance.

 

Utility company granted Consent Order stating to the court that they don't object to a Set Aside, as in their words

"The defendant was not liable for the charges at the time the claim was issued".

Covering letter from them and form N244 with fee submitted to the court for set aside.

 

Problem is that will take weeks, and I'm under pressure to proceed with the house purchase, but can't get anyone to consider me. Need 90% loan to valuation.

I'm 58 years old looking for a 15 year mortgage term.

 

Two brokers, one of whom is massivelly praised on various review sites.

Placing mortgages with "High Street lenders" for folks with on the surface far worse records than me, say they can't help.

 

Time is running out, am I really that poisonous?

Edited February 28, 2018 by dx100uk
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[London1971]

For you to be able to get an 85% LTV mortgage your CCJ needs to be more than a year old, it makes no difference if they are paid off or not. Right now you would probably be good for a 75% LTV if that helps. If you get a set aside things should go back to normal,

[calibrator]

The set aside should go through in the next 3 weeks.

Do you know how long it might take to be removed from my credit report?

Edited February 28, 2018 by dx100uk
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[theoldrouge]

1 -2 months

 

You really have two things against you

for a 90%mortgage

 

The recent CCJ and your age

 

You will need to show that you can afford

the mortgage in retirement

[calibrator]

I’m easily able to afford the mortgage into retirement.

 

In fact due to a forthcoming legacy it’s very unlikely that I’d need to.

 

But a previous poster is correct, I’ve had an offer but 20% deposit.

 

Closest I can get right now is 15%.

Edited February 28, 2018 by dx100uk
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