Poor Credit History

Posted on 4 June 2011 by Katie


Would it be possible for me and my husband to get a £40k mortgage, we have a 10% deposit but have bad history and ccjs, our joint income is £22k?

Katie

I doubt very much whether you will be able to get a mortgage, but it does depend on how long ago your CCJs were registered and how recent your poor credit history is.  Any adverse credit records are removed after 6 years and so anything older than this can be disregarded.  If you have any CCJs that have been registered within the last 24 months then you will need at least a 30% deposit before anyone will consider you for a mortgage.

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 speak to a local independent mortgage adviser about your situation.

Peter

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