Mortgages with CCJ’s

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Bad Credit Mortgages with a CCJ 

You might be wondering what your options are now that you have a CCJ against your file and whether you are going to be able to get a mortgage. The answer is that there are options out there for you but they will be limited. It is best to get in touch with a mortgage expert to explore your options based on your specific situation.

What is a County Court Judgement?

A County Court Judgement or CCJ is issued when you fail to repay money that you owe. It is important to not ignore a CCJ and try to repay it as soon as you can to stop it from affecting your credit file further. If you manage to pay it off within thirty days, then it is likely to not appear on your credit file.

Can I still get a mortgage If I have a CCJ?

You may still have options when finding a mortgage even with credit issues such as a CCJ. Lenders will want to know that you can afford the repayments on your mortgage even with a poor credit rating so it is important to try and settle adverse credit as quickly as you can before you apply for a mortgage.

If the CCJ was settled within the thirty-day period, then it is likely to not even appear on your credit history. If you did not manage to pay it within thirty days, then you will be limited on your mortgage lender options.

The newer and more expensive the CCJ the less likely you are to find a lender. A lender will be interested in what the CCJ was issued for and whether it involved property or not. Ensuring your finances are in order is essential and a clean credit file after the CCJ was issued will give you more of a chance with lenders.

Does the date of a CCJ matter for a mortgage?

CCJs that are older than six years will not appear on your credit file. It is easier to get a mortgage with a CCJ that is three years old than one that was issued 12 months ago. You should take time after a CCJ to get your finances in order. Every lender is different and will focus on different aspects of the CCJ for example when it was settled or when it was issued.

Can I get a CCJ removed from my credit file?

It is possible to get a CCJ removed from your file, but you will need to prove one of the following:

  • You paid it within thirty days of it being issued
  • You have disputed the CCJ or another party has been proven responsible
  • It has been six years since you received it
  • You never received the CCJ in the first place.

You need to contact the court in which the CCJ was made and it is advised to contact each credit reference agency to get a ‘notice of correction’ added to your credit report.

How can I rebuild my score after a CCJ?

Pay off the CCJ and make sure to pay all of your other credit agreements on time too. If you think that you are going to miss any more payments, then contact the lender first to see if there are options for you.

You should try to avoid applying for any new forms of credit and stay out of your overdraft if you can. Make sure that your details are all up to date on the electoral roll and ensure that old accounts are closed and settled.

Rebuilding a credit score takes time and you will need to prove that you can handle your finances again.

Will the size of my CCJ affect my mortgage application?

The size of the CCJ you have been issued will affect your mortgage application. Lenders will want to know the amount and if it is on the expensive side then your options may be limited. Lenders need to know that you can afford the mortgage loan you are taking out and if the CCJ is too large they will reject you as a high-risk borrower.

It is important to try and pay off a CCJ as soon as you can so you can begin to rebuild your credit score. There are specialist lenders out there who may be willing to accept you on to a mortgage, but you will need the help of an expert mortgage adviser to find one.

How can speaking to a specialist at Better Financial Services help?

Here at Better Financial Services, we have a team of expert mortgage advisers waiting to give you tailored mortgage advice to your current situation. We will listen to your needs and what it is you want from a mortgage and then explore what options you might have.

It can be daunting trying to get a mortgage after you have been issued a CCJ and we are here to take that stress away. We will be able to discuss your options and help build your mortgage application before approaching a carefully selected specialist lender.

When it comes to CCJs and bad credit there are some mortgage products out there that are not authorised and regulated by the financial conduct authority – but luckily, we are. This means we can access the whole of the independent mortgage market to find the right lender for your situation and we have the qualifications to do so!

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Think carefully before securing other debts against your home.

Mortgages with CCJ’s
Mortgages with CCJ’s

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Mortgages with CCJ’s

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