How does a CCJ affect getting a mortgage?
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How does a CCJ affect getting a mortgage?
James Bull explains how the mortgage process works if you have a CCJ.
Can I still get a mortgage if I have a County Court Judgement (CCJ)?
Yes – a very simple answer to start off this podcast. Absolutely, you can.
What mortgage lenders accept CCJs?
It’s not as simple as just giving out a list. It really depends on the specifics of the CCJ. For example, what is it for, how much is it and what date was the CCJ registered? Is the CCJ satisfied or not?
Once we have these details, as well as the background of a client’s personal circumstances, we can start looking at what lenders might be available.
Can I get a mortgage with a satisfied CCJ?
Absolutely, yes.
Does the date of my CCJ matter for a mortgage?
It does, definitely. Your credit report goes back six years, and if you have a CCJ it should drop off your credit report after that. But while it is on your credit report, the older the CCJ it is, the more favourable it’s going to be for your mortgage.
Does the size of the CCJ affect my mortgage application?
It does. A lot of lenders have matrices to help them make decisions on this and there will be dates and amounts on that matrix.
As an example, we see a lot of small CCJs for parking fines which are increasingly common.
Some lenders may ignore small fines like these altogether.
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Everyone’s different. You might be self-employed. You might have some credit history issues – whatever your situation, we will find the most suitable product available to you from across the whole market.
Can mortgage lenders see a CCJ after six years?
Yes. Your credit report goes back six years and after that, the CCJ will drop off your records and lenders won’t be able to see it from that point.
How do I find out if I have a CCJ?
The right way to find out if you’re not sure is by obtaining a copy of your credit report. Any CCJs will show on that report.
A lot of people do find credit reports quite hard to read, and if that is the case, send it to us. As a mortgage broker we look at credit reports every day so we’re happy to review it for clients if they’re not sure.
How can a mortgage broker help? Have you got anything else you’d like to add?
There are many factors affecting whether you can get a mortgage. It’s not just the CCJs. At JB Mortgages we work with over 100 lenders across the marketplace. If you have a CCJ, the right thing to do is just get in touch with us. We’ll do a full review of your circumstances and we’ll give you personalised advice about the right mortgage available for you.
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