Getting a Mortgage with CCJ's.

[Veteran6224]

Hello all,

 

I am currently in the process of servicing/settling all of my debts and over the last 3 months have paid off 5 of my 7 debts (£4800).

 

I have one large-ish debt of £5300 and a small debts of £700.

I will be looking to get a mortgage early 2020 so checked out my credit report to see if there’s any other debts/defaults I’m unaware of.

However, when I access my report it states I have no negative factors and no defaults.

I can’t understand why it wouldn’t show my defaults,

 

can anyone help please?

 

I just want an organisation to be able to tell me all of my debts so that there ends up being no hidden surprises further down the line.

 

help is greatly appreciated

Edited January 5, 2019 by dx100uk
spacing

[dx100uk]

probably because the defaults are older than 6yrs?

 

why are you blindly settling debts?

and I hope not to DCA's that now oen the Debt?

 

have you ever sent the owners now a CCa request to check they hold all the legally enforceable paperwork to even demand money from you?

 

please list your debt.

 

moved to the debt self help forum.

 

there are are also 3 main CRA providers

not all debts show on every providers credit file.

 

dx

[Bazooka Boo]

As DX says your credit file and SB aren't linked, credit file entries last for six years from the date they are added.

 

SB is either 6 or 12 years dependent on what type of debt it is.

[dx100uk]

Defaulted date

[dx100uk]

Ok can we start again please..

No good you telling half the story...

 

List everything you owe or owed and to whom you paid..

What was the org debt

With whom now

Any CCJ with it

 

Paying a CCJ doesn't make you more acceptable to a mortgage

Full story please

[London1971]

Just to add to all of this,

 

Any CCJ / Default that has dropped off your Credit report will be invisible to mortgage lenders, however you will need to disclose what you are paying them per month in your application.

 

In general the older a CCJ / default, the more choice of better (cheaper) mortgage products you will have. Normally a 25% deposit can get around even a 6 month old, unsatisfied CCJ, In my case I needed to wait until my newest CCJ was 2 years old because I could only afford a 15% deposit, my monthly mortgage payments are also a couple of hundred p/m more because I am on a higher interest rate.

 

In order to walk into a high street bank, low interest mortgage and put down a 5% deposit your newest CCJ would need to be 3 yrs old and satisfied. For some reason shared ownership properties are the same. Although 'Help to buy' is an excellent option if you can't afford a 25% deposit.

 

It's also worth mentioning that in my situation with a 15% deposit, the fact that my Defaults and CCJ's were unsatisfied made no difference. They only insisted that I pay off an old pay day loan (250 pounds).

[Veteran6224]

Hello all,

 

I am planning to go for a mortgage in the next 8-12 months with my partner

 

. Her credit score is excellent,

I have checked my reports and have just 2 debts remaining

 

one I have been paying off for a long time now

 

the other I haven’t acknowledged.

 

 Both defaults and both registered as CCJ’s

. one of the debts (the one I haven’t acknowledged) for £6,933 is with Moneybarn.

The default date is the 11/11/2013 am I correct in thinking that this will become SB next month? 

 

Also so is it worth me sending them a letter once the 11th November arrives asking them to remove it? 

 

Finally, to be mortgage ready should I pay off the remaining debt with the one I am servicing or would I be better putting that money into our deposit?

 

Thanks in advance for your support 

 

regards 

 

J

[fkofilee]

Nope... it was made a CCJ so Doesnt get made SB... 

 

[London1971]

What is the date the CCJ was issued?

 

This is very important, and will go a long way towards you understanding your mortgage options.

Edited October 1, 2019 by London1971

[fkofilee]

Sorry should be clearer. 

 

The default will come off your CRA 6 years from date of default. CCJ will be removed 6 years from Dat of Judgement but is still oustanding. 

 

Mortgage Apps will fail with 2 CCJs.

[dx100uk]

6yrs..

Defaults or ccj's

paid or not ...paying or not ...will vanish on their 6th birthday.

doesnt mean a debt cannot be enforced though. Esp if you are already paying...

[London1971]

Mortgages are possible even with 6 month old unpaid CCJ's, with a big enough deposit and crippling interest rates.  Age (and size) of CCJ affects your choice of mortgage more than whether it is satisfied or not.

 

In general once your latest CCJ is 2 years old your options increase.  My mortgage was obtained with 4  CCJ's between me and my wife, newest one at 2 years old. We needed a 15% deposit, our interest rate is 5%.

Edited October 1, 2019 by London1971

[Veteran6224]

Thank you for the replies. The CCJ’s are as follows:

 

moneybarn £6,911 case hear on 9th August 2014 it states 44 weeks until removal 

 

Amigo Loans £5,912 (£3,407 remaining) case heard 12th Jan 2016 - 2 years 14 weeks until removal.

 

@London1971 I certainly hope mortgages are still possible with my credit. I have cleared a lot of debt and have a credit card and overdraft facility totalling £6,850 with a balance of £0.00 I use the credit card regularly and pay it off in full to build my credit. We have a £35,000 deposit and decent household income with disposable each month. If it’s going to be a struggle then we may have to get the mortgage solely in my partners name. 

[dx100uk]

retitled and moved to the mortgage forum

[London1971]

4 hours ago, Veteran6224 said:

Thank you for the replies. The CCJ’s are as follows:

 

moneybarn £6,911 case hear on 9th August 2014 it states 44 weeks until removal 

 

Amigo Loans £5,912 (£3,407 remaining) case heard 12th Jan 2016 - 2 years 14 weeks until removal.

 

@London1971 I certainly hope mortgages are still possible with my credit. I have cleared a lot of debt and have a credit card and overdraft facility totalling £6,850 with a balance of £0.00 I use the credit card regularly and pay it off in full to build my credit. We have a £35,000 deposit and decent household income with disposable each month. If it’s going to be a struggle then we may have to get the mortgage solely in my partners name. 

 

Yup you should be able to get a mortgage, I was in the same situation as you last year, with exactly the same deposit as you also.  So your Money barn CCJ will no longer be visible on your credit file in 44 weeks and your Amigo Loans will be 5 years old next year.  

 

There is no question that you will get a mortgage, probably at a lower interest rate than me.  The only problem you might have is the size of the CCJ, might have an effect.  You need to find a good broker, that can make all the difference

 

In any case, worst case scenario, start off with a higher interest rate mortgage, aiming to remortgage in a couple of years. Anything is better than chucking it away in rent.

[Veteran6224]

Hi all

 

i got a mortgage even with the defaults and CCj’s