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CCJ Mortgage - Mortgages with a CCJ

7th April 2010:

CCJ Mortgages — despite the credit crunch there are still mortgage lenders willing to lend you a mortgage with current CCJs. Some lenders will even ignore ccj's or defaults below a certain value or after a number of years whether cleared or not. The maximum LTV is restricted to around 70%. but there are lenders that will offer an CCJ mortgage.ccj mortgage

You may be worried that you can't get a mortgage with CCJs hanging over your head, but we may be able to help you to find a mortgage product to suit you.

Whether you realise it or not, having a County Court Judgement (CCJ) against you for unpaid debt can cause difficulties when it comes to applying for a mortgage. Traditional lenders are unlikely to offer their best products to people they perceive as a risk, which is why it's worth checking your credit record. You can get a mortgage with CCJs but you will need to speak to a mortgage broker in order to ensure that you get the best deal.

* ccj mortgages These products and services promoted here due to their specialist nature are not part of the openwork offering and therefore, Openwork Limited accept no responsibility for this aspect of our business

 

Can I get a mortgage with a ccj?

People end up with CCJs against them for all sorts of reasons. Often it is through no fault of their own. It might only take a month or so off work through redundancy or ill-health for someone to fall behind with payments on a loan or other debt, and end up being taken to court and having a County Court Judgement registered against them.

All CCJ's are recorded and a note of the CCJ will be shown on your credit record. The only exception is if you pay off the debt in full within thirty days of receiving the CCJ judgement from the County Court.

The Register of County Court Judgements holds publicly available records of all CCJs and if you get a CCJ this will remain on the Register of County Court Judgements for six years.

Even once you have paid off the debt that you got the CCJ for, your CCJ will still appear on this Register of County Court Judgements, but it will be marked as satisfied.

Even a satisfied CCJ is likely to stay showing on your personal credit record and will mean you have a bad credit history when it comes to trying to get a mortgage.

So getting a mortgage with CCJs is not easy. In fact, getting a mortgage with a CCJ can be very difficult.

However, as with all credit problems, there are mortgage lenders who are willing to consider offering a mortgage or remortgage to people with CCJs.

Lenders will want an explanation of the ccjs and why they arose, this might be because you lost your job or went through a divorce etc, so long as there is a plausible reason and that you can now demonstrate you would be able to afford the mortgage payments, then lenders would be willing to lend. CCJ Mortgages take careful sourcing so please use our ccj mortgage specialist

Regardless of the reason as to how your County Court Judgement was acquired, most banks and building societies feel uneasy about lending to people who, in their opinion, have proved that they cannot stick to an agreed repayment schedule.

However, your past credit history should not prevent you from securing a home loan, providing you can put forward a reasonable deposit. There are a small number of lenders in the UK who are more accepting of individuals with CCJs. A specialist broker will work closely with them and can advise you on the CCJ mortgage products available to you.

ccj mortgage help

Before you apply for a mortgage, check your credit record to see if there are any CCJs against you. CCJs can be issued without your knowledge, for anything from very large unpaid debts, to an unintentional non-payment of a utility bill. Unless you settle the debt within a month, the CCJ will remain on your credit record for six years, which could impact your mortgage application. If you have paid your debt, you can obtain a "Certificate of Satisfaction" which shows the mortgage lender that you have cleared the debt. Whilst this payment may not allow you access to mainstream mortgage products, you could get a mortgage with CCJs, cleared or uncleared, on your record.

If you want a mortgage with a current CCJ or mortgage with defaults, then please get in touch as they need careful handling to ensure they complete swiftly and successfully. We also want a long term relationship helping you our of your CCJ and rebuilding your credit rating to get you back into mainstream lending as quickly as possible.

 

Mortgage with Current CCJ or mortgage with defaults

  • CCJ Mortgage — Interest Only
  • CCJ Mortgage — with current CCJ
  • CCJ Mortgages — get professional help
  • mortgage with defaults

 

Typical mortgage product with ccjs;

  • Up to 2CCJs in last 2 years (max £750)
  • Up to 2 unsecured defaults in past 2 years
  • No credit score
  • Full status lending to self-employed with 12-month verified accounts
  • Income verification by qualified ICB book keeper plus copy of latest accounts
  • Bonuses considered up to 100%
  • Overtime considered up to 100%
  • Guaranteed salary allowances and other declarable income considered up to 100%
     

 

 

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