Impaired Credit
Josh, like many others, faced financial difficulties following his divorce. He initially retained the marital home, with the obligation to now meet the mortgage payments on his own, and struggled on a single income. Through a dispute with his mobile phone provider over a series of defaults, the highest being £280, he was then issued with a CCJ for £1,000. Josh made the decision to sell his property and rent to help him get back in control of his finances.
When he was back on his feet, he tried to buy a home again but was rejected by mainstream lenders due to having a low credit score. When his broker recommended Bluestone Mortgages, he was relieved to hear that we have a flexible criteria when it comes to telecommunication CCJs and defaults.
Fortunately, we were able to help Josh because, at Bluestone, all CCJs and Defaults under £300 are ignored, all telecommunication CCJs/Defaults are ignored, and we allow up to 4 Defaults and 3 CCJs within the last 3 years, granted a clean track record for the last 6 months.
By understanding Josh’s personal circumstances and the reason behind the adverse, we were able to help Josh get back on the property ladder. He has moved into his new home and is back on his feet.