Can I get a mortgage with CCCS?

Posted on 15 October 2007

I have a debt plan with CCCS. i owe 52k and have made regular payments for a year but 2 creditors are saying they are to take court proceedings for the amount i owe them. i am in the midst of divorce proceedings  and need to find somewhere else to live can i get a mortgage in the circs?

Steph

Hello Steph,

Yes you can get a mortgage, but the rates won't be favourable and only a few lenders can consider your situation.  Our adverse credit mortgage team can be reached on 0800 066 5575 - free of charge or the web location is  http://www.charcol.co.uk/find-a-mortgage/get-a-mortgage-quote/bad-credit-mortgage-help/.  (The typical APR for bad credit business is 8.6% APR.)

I am surprised that creditors are threatening to proceed to court, I presume that for some reason they were not included in the original agreed debt plan. CCCS May be able to include them now, or, if they have already declined to accept CCCS's proposition, you may be able to agree with them that you will return the lump sum once the sale of your current property has gone through

I would question whether you really should buy again for the time being. As much as it is frightening coming off the property ladder, price increases are slowing so this may not be a bad time to jump off the ladder, rent somewhere small for a while and settle all of your debts. You would have to start again in the future but if you give it a year or so, then start small, you can get yourself the peace of mind that you won't have to suffer this stress or lose your home again.

Best of luck with it.

Katie.

Category: Bad credit

• Save to del.icio.us
• Digg this story