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Can I Get a Mortgage with a CCJ?

Bad Credit Mortgage Advice in Manchester

Can I get a Mortgage with a CCJ? | MoneymanTV

CCJ Mortgage Advice in Manchester

A County Court Judgment, or more commonly known as a CCJ, is a court order in the UK that will be issued to you if you fail to pay back any money that you owe.

Having a CCJ associated with your name can put a negative impact on your credit file which could reduce your chances of obtaining a mortgage in the near future. If this is your situation, you will benefit from taking Specialist Mortgage Advice in Manchester from us. We are very experienced within this area and have been dealing with CCJ mortgages for years now. Don’t be afraid to get in touch with our fantastic team, we will be more than happy to try and help.

When applying for a mortgage with a CCJ, you should expect your Mortgage Advisor in Manchester to look at a few things:

🏠 How many CCJ’s are currently registered to your name
🏠 The value of the CCJ
🏠 Are the CCJ’s settled or unsettled
🏠 How much your deposit is
🏠 The date that the CCJ(‘s) was/were registered

How do you get a County Court Judgement (CCJ)?

You will be issued a CCJ if you fail to pay back any money that you owe. This could be as simple as not paying off a small loan to consecutively missing your mortgage payments. A CCJ can have a negative impact on your credit score.

When you are issued a CCJ, you will get a 30-day period to pay it off (satisfied CCJ). If you manage to meet this deadline, the CCJ may be stripped from your credit file, however, if you fail to meet this payment, it will stay on your records for 6 years in total (unsatisfied CCJ).

Can I still get a mortgage with a CCJ?

Yes you can! Luckily, with the helping hand from a reputable Mortgage Broker in Manchester like ourselves on your side, it may be possible to get a mortgage with a CCJ.

If you managed to meet the 30-day deadline, the CCJ can be withdrawn from your records, hence increasing your chances of getting a mortgage. When you fail to meet the payment within this time frame, you will have the CCJ linked to your name for 6 years.

If the CCJ has been issued recently, it may be more difficult to get accepted for a mortgage. Generally, depending on the remaining total of the CCJ that has still not been paid off, the longer it has been since you were given the CCJ, the more likely that it is that you’ll be accepted for a mortgage.

We work with lots of different specialist mortgage lenders who each have their own lending criteria relating to CCJ’s and how much deposit you’ll require. It’s our job to know this lending criteria well, in order to recommend the best mortgage for you and your personal situation.

When you have a CCJ linked with your credit file, lenders will want to know more information relating to the CCJ. They will look for any underlying issues such as you owing money to another mortgage lender, the effect your financial state could have on the property and how you manage your overall finances.

It may be harder to get accepted for a mortgage with a CCJ, however, it can still be made possible with a few different techniques – one is trying to improve your credit score.

Can I dispute a CCJ?

With difficulty and enough sufficient evidence, you may be able to remove your CCJ from your records.

If you feel like you wrongly received the CCJ, you can ask for the court to re-open the case against you. This will come with costs, however, if you manage to get it removed, it will massively benefit you down the line. To appeal your CCJ, you will need to fill out an N244 form and send it to the court. If the case is reopened and the court agrees that the CCJ was wrongly imposed, they will remove the CCJ from the Register altogether and get it cleared from your name.

Does the date of my CCJ make much of a difference?

An unsatisfied CCJ will be removed from your credit file after 6 years has passed since the date that it was issued. Like we have mentioned before, the longer it has been since you were issued the CCJ, the more likely it is that you’ll be accepted for a mortgage. Also, if the debt hasn’t been settled within the 6 years of you being issued the CCJ, this may also negatively impact your chances of being accepted.

Their confidence will also be increased the quicker that you manage to pay off the CCJ. Each lender will look at a CCJ differently though, some lenders may not even work with you if you have a CCJ. It’s likely that you’ll need to approach a specialist mortgage lender to secure a CCJ, on the other hand, if you are lucky, the occasional high street lender may be more lenient.

How can I rebuild my credit score after receiving a CCJ?

To get your credit score back on track, you will definitely benefit from taking Bad Credit Mortgage Advice in Manchester. Sometimes you need a bad credit mortgage specialist’s help to guide you back onto the right path.

You will need to keep up-to-date with your mortgage payments, current financial commitments and your CCJ over the 6 years. Even if you’ve paid it off within the 30-day window, you should still be wary of your finances and make sure that this doesn’t happen again, as multiple CCJ’s can hurt your credit score even further.

If you want more free mortgage tips on how to improve your credit score in Manchester, feel free to check out our guides or get in touch with our amazing team of Mortgage Advisors in Manchester today.

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