Mortgage with CCJs
Can we offer you a mortgage if you have a CCJ registered against you? The answer in very simple terms is YES, there are lenders who will consider an application from you if you have a bad credit profile. What we can obtain for you will depend on when the CCJ was registered against you and the amount involved.
Getting a Mortgage with County Court Judgements
The more historical the judgement is (i.e. two years or more) it would generally be ignored, paid or not. It becomes more difficult when the CCJ is dated within the two-year time frame, and what the judgement relates to. Some lenders may take a view when a CCJ is under £300 or in respect of a mobile phone contract.
Because this is a manual underwrite and not based on points scored, some lenders will accept bad credit within the two-year period depending on the loan to value. Providing a bigger deposit is viewed by the lender as creating lower risk and allows them to take a more flexible approach to their underwriting.
Getting a copy of your credit file up front is very important as it allows us to see the same level of information as the lender’s underwriter which allows us the opportunity to discuss your application with an underwriter if there are any areas that are not clear how they may be viewed.
We much prefer to be able to discuss your application with all the facts at our disposal, meaning the information we feed back to you is 100% factual and any illustration we send to you is based on that information.
For your information, if a CCJ was registered at an address that you were not living at, at the time the judgement was served, under County Court law you can have it removed. The Court will then serve it on the correct address, but if you settle the debt with 30 days it will not appear on your credit file.
The overall cost for comparison is 5% APR. The actual rate available will depend on your circumstances. Ask for a personalised illustration.