How can I get my son a mortgage?

[Legacywr]

As per title. My son is lucky enough to have a sizable deposit, 25 to 30% of the purchase price.

Unfortunately, both my sons and I don't have great credit reports. Not due to dishonesty, mostly due to dyslexia, and large unscrupulous companys.

Any ideas?

[Sarnie]

Define;

"don't have great credit reports"

What does this mean exactly?

[Legacywr]

He has an old CCJ that should have been taken off, but wasn't, and, he has just found out he has an outstanding one for £36!

I had a CCJ that has been removed, as far as I know!?

[Ozzie Osmond]

Has he tried to bet a mortgage yet and been rejected, or are you just worried?

If he is getting rejections I'd suggest talking to a proper mortgage broker. If the credit report issues are trivial they will soon evaporate if someone who knows what they're doing is looking at it.

[Sarnie]

Legacywr said:

He has an old CCJ that should have been taken off, but wasn't, and, he has just found out he has an outstanding one for £36!

I had a CCJ that has been removed, as far as I know!?

The first step is that you need to know EXACTLY what is on yours and your sons credit files. You need to know what the lenders are going to see rather than just bouncing applications around lenders, which will only harm your chances further. You can get a free copy of your credit file here;

www.noddle.co.uk

Then once you have it, you'd be better speaking to a broker (I'm one! ) who may then be able to match a lender to your circumstances.

[Ozzie Osmond]

Sarnie said:

rather than just bouncing applications around lenders, which will only harm your chances further.

That's a good point. I believe that when a potential lender looks at your record they see the number of requests which have been made.

[Legacywr]

Well, that's handy to know, thanks 😊

[Skyline luke]

This would be about me then. The outstanding balance has all been paid off and have been in contact with the debt collector to get the ccj removed as they had requested it to be reversed last year. The main problem I have is that there is defaults on my account. All outstanding balances have been paid off last year.

[Nickyboy]

If your score is less than 700 i would say you have no chance but it will depend on the lender. Defaults are seen as a big no no, if you have a CCJ as well then you might as well not bother. Until you speak to an advisor then you wont know for sure.

[Skyline luke]

Nickyboy said:

If your score is less than 700 i would say you have no chance but it will depend on the lender. Defaults are seen as a big no no, if you have a CCJ as well then you might as well not bother. Until you speak to an advisor then you wont know for sure.

That's if you go to a high street lender! The ccj is being removed as it shouldn't be there the debt was paid.

[Sir_Dave]

Legacywr said:

dyslexia

Just out of interest, how has that affected your credit report?

Last time i checked, it didnt stop you paying bills

[Legacywr]

Sir_Dave said:

Legacywr said:

dyslexia

Just out of interest, how has that affected your credit report?

Last time i checked, it didnt stop you paying bills

It (can) stops you dealing with your post properly when you open it

You say you'll come back to it, but, you generally you don't!