Do you Need a Mortgage with a CCJ?
We’re often asked the question, can you get a mortgage with a ccj (that is a County Court Judgement to give it’s full title!). It’s always advisable before applying for a mortgage to check your credit record with Equifax or Experian to ascertain whether or not you’ve got any ccj’s against you or your partners name. If you have you’ll probable find you’ve now got a bad credit record
We’ve often discovered that ccj’s have been issued apparently without the person’s knowledge and the reason for a ccj can vary from anything from very large unpaid bills to the council or Inland revenue, through to the unintentional non-payment of an electric or gas bill.
However, unless the debt is settled within a month, the County Court Judgement will remain on your credit file for six years!
Well you can just imagine the impact this could have on any mortgage application you make, can’t you? So if you were in a position to pay of the debt this would be an advisable course of action.
If you did pay up, you can obtain a letter or “Certificate of Satisfaction” from the County Court that issued the ccj and present this to the mortgage lender to show you’ve cleared the debt. The cost of the certificate is about £25 but varies from one jurisdiction to another.
Whilst making this payment may not always enable you to access mainstream high street mortgage products, you could still get a mortgage with CCJs, cleared or uncleared, on your record via a ccj bad credit mortgage application.
Applying for a mortgage with CCJs, you would need the services of a specialist broker. There are a variety of lenders that have put together mortgage products especially for the ccj market, and a bad credit mortgage broker will have access to most, if not all of these products.
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