I am looking to get a Right to Buy Mortgage with my husband. The property is worth £340 – £360k but with all discounts etc we would need to borrow £205 – £225k.
I have good credit. I have a car payment which ends in November and a small balance on my 0% credit card (which I’m able to pay in full if necessary).
Problem is my husband has 3 CCJ’s. Long story but they’re 4/5 years old, at an old address he hasn’t lived at in 6/7 years and caused by someone else. We’ve made the decision to pay these off in full in the next few days – to repair his file. However we are unsure of how this will influence our ability to get a Right to Buy Mortgage and/or the rate.
We both earn well and jointly own a Ltd company in its 6th year of business, is profitable and growing year on year.
Any advice or knowledge on how the above will affect us and how to overcome any obstacles would be greatly received.
Given the information shared, I think you can expect to achieve very competitive mortgage terms.
Lenders are currently very sensitive on self employed applications due to the nature of the current climate
Well worth you getting your last couple of years Tax Computations from your accountant in advance.
Best of luck