I am a Home Owner, I’ve had my mortgage for 3 years and never missed a payment etc but I do have a CCJ from a while ago. Am I guaranteed to get a Home Owners Loan or will I still be subject to Credit Scores etc?

Yes you can get a Bad Credit Homeowner Loan.

Usually these are secured loans, but you can find unsecured ones too. In case of secured loans your home will be the collateral against the loan that you are going to borrow.

With these loans you can avail an amount that ranges from £5000 to £100000. The loan amount mainly depends on your house value if you go for secured loan. The repayment duration ranges from 5 -25 years. As the loan is advanced to people having bad credit score, lenders offer bad credit secured loans at slightly higher interest rate ranging from 7.9% APR to 19.9 % APR.

All the best………….

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Would YOU give you a loan, looking at your credit history?

More debt is the last thing you need after doing a DC.

i have bad credit and have had a ccj within the last 12months will i ever be accepted for a mortgage?

The way reputable mortgage companies are handling loans right now, I would doubt it. If your credit score is at least 700, then perhaps you could get a mortgage from a lender online. However, due to the recent mortgage crisis, many of the criteria that were used in the past few years to qualify borrowers, has been thrown out the window. Lenders got burned when many bad credit people walked away from their homes and wound up in foreclosure.

There is a new FHA Express mortgage available now and you may qualify for that. 3% down and you can borrow up to 95% of the home’s value.

Bad credit borrowers are very risky and the lender doesn’t want to take a chance that you’ll default and stick them with a house they cannot unload.

My advice? Wait a couple years, clean up your credit and stuff some money away. Even $50 a month stuffed into a savings account is better than nothing. If you have a larger down payment, lenders will think that you’re less likely to default if you have a good chunk of your own money to lose, and you’ll qualify for a better interest rate. That saves you big money in the long run.

imin roughly £3000 debt, (bar student loan as im still studying)

what is the best option to get out of this. i am a full time student so cannot work as much to get out of it as quickly, do i declare myself bankrupt? get an IVA(whatever that is??) DMS??

leave the country, bankrupt for £3k? lmao

I have a home right now that i am buying by owner so i did not go through a bank. But i what to go though a bank now but i have bad credit my score is 511. Do you think i can get a loan? I have had this home already for 3 years i did a 15 years mortgages with this lady i want a lower interest rate? any help plzzz

what ever you do do not get a loan from roseberry loans they send out a contract and once you pay them you can kiss your money good bye as i found out today infact a loan agents on here are scammers be aware dont fall into the same trap i did

My parents have a credit score above 720 and mine is lower (620s), so I want to ask them if they’ll co-sign a consolidation loan for my student loan debt ($89,000). How much will it affect their credit score if they cosign? I’ve never made a payment late or gone over the limit on my cards, I just don’t have a very long credit history.
teriod: You’d think $89000 in school debt would mean getting a good job, wouldn’t you? It’s actually my husband that has the debt and he went to one of those "for-profit" career schools that’s not even regionally accredited, so all he can get is a job that pays $10.50 an hour. I wish I’d had control of our finances when he decided to go to that horrible school, I would’ve told him to just go to a state university- better education for a fraction of the price. Oh well, that’s life.

If your parents co-sign the student loan consolidation, it will only hurt their credit if you were late on your payments. As you are the primary applicant, the debt will reflect on your credit report.

One cannot accurately predict the effect this loan will have on your Parent’s credit, it will depend on any debts that they have outstanding, Debt to Income ratio, lenght of credit history and so forth.

You should shop around to get the best rate possible. Here are a few good links:

www.consolidateplus.com
www.freedomstudentloans.com

They offer a free consultation. Hope this helps.

Is it still possible to get a mortgage if credit is bad due to delinquences on other properties? No bankrupcies or foreclosures (yet) … but on some of my properties (investment) 90-days past due?

Thanks.

This is either one heck of a deal or you are a glutton for punishment. And NO I dont believe any bank would touch it. Get seller financing.

Having built up a ludicrous level of debt after university I was forced into taking out an Individual Voluntary Arrangement over 2 years ago. However the amount I had to pay kept going up as I was earning more to an unacceptable level and I defaulted. The agency petitioned my creditors and they voted that the resolution would be made to fail my arrangement, issue a certificate of non-compliance and take no further action. Can anybody explain what this means?

Thanks!

It sounds like you failed in the terms of your arrangements in the loan, but which may hurt your credit standing.