Posted on 19 March 2011 by Fiona
I am a single woman 53 and have a bad credit history with several CCJs gathered after falling into financial troubles after my divorce several years ago. The CCJ's are not all settled, but I have had no defaults or CCJs in the past 3 years although I entered into an IVA 3 years ago to try to sort things out. This failed and I decided to pay creditors off myself. I have an income of £35,000 employed and a deposit of £100,000. Do I have any chance of a mortgage at all in the current climate and considering I have old outstanding CCJ's?
The vast majority of Lenders will not consider you for a mortgage, but there are still a few specialist Lenders who will consider you as long as the latest CCJ is over 2 years ago. The real hurdle is going to be the IVA and whether this was a court registered Individual Voluntary Arrangement or just a debt repayment plan. If it was an IVA then the number of lenders reduces dramatically and it must be showing as satisfied on your credit report.
I recommend that you get a copy of your credit report from one of the major Credit Reference agencies: Experian, Equifax or Callcredit, the maximum cost to see your statutory report is £2 and you can view it online or get a copy by post, and then call us on 0344 346 3672 and tell the consultant the date and title of your question. They will be able to look at your situation and advise you accordingly.
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.