Can I Get a Mortgage with a CCJ

Bad Credit Mortgage Advice in Sheffield

CCJ Mortgage Advice in Sheffield

A County Court Judgment (also known as a CCJ) is a court order in the UK that you will receive if you fail to repay money that you owe.

The good news is that with a mortgage broker in Sheffield like ourselves, who has lots of experience in helping customers with bad credit including CCJs, it can be made possible to get a mortgage with a CCJ. Usually, the bigger the deposit that you have to put down on your purchase, the easier it is to get a mortgage.

Once you have a CCJ associated with your name, your chances of getting a mortgage may be lowered. They will negatively impact your credit file and in some cases can stop lenders from lending to you altogether. If you have recently been issued with a CCJ and you need specialist mortgage advice in Sheffield. You should know that our Mortgage Advisors in Sheffield are here to try and help you through these complex situations.

We have come across many CCJ mortgage applicants during our two decades of working within the mortgage sector, so don’t hesitate to get in touch with our experienced team of Mortgage Advisors in Sheffield.

When submitting a mortgage application with a CCJ in your name, you should expect your Mortgage Advisors in Sheffield to take a look at a few things…

• How many CCJ’s are linked to your name
• The amount left on the CCJ’s
• Are the CCJ’s satisfied or unsatisfied
• How large your deposit is
• The date when the CCJ(‘s) was/were issued

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

If you fail to back overdue payments, you will end up receiving a CCJ. You may get a CCJ for not paying back a small loan or it could even be for missing numerous mortgage payments. A CCJ will be issued if you cannot make up the funds to pay back the owed amount.

When you are issued a CCJ, you will be allowed a 30-day window to pay off the outstanding debt. If you meet the payment within the given timeframe, you will get the CCJ stripped from your records. If you can’t meet this payment window, you will have the CCJ registered on your record for 6 years from the date that it was issued.

Can I still get a mortgage with a CCJ?

With the help from a mortgage broker in Sheffield like us, it may be possible to obtain a mortgage with a CCJ. We are very experienced within this field and have helped many customers in a similar situation before.

If you fail to pay back the overdue amount of the CCJ within 30 days, you will have it on your record for the next six years. Whether lenders will accept you for a mortgage or not whilst you have a CCJ, usually depends on two factors: how long ago was the CCJ issued and how much is left to pay back on the CCJ?

Typically, although depending on the lender, the longer that you have had a CCJ, the more likely it is that a lender will accept you for a mortgage. Our Mortgage Broker in Sheffield works with lots of specialist lenders each holding their own lending criteria and policies relating to bad credit mortgages. It’s your mortgage advisor’s role to recommend the best deal for you based on your individual situation and credit status.

If everything looks good to your lender or Mortgage Broker in Sheffield, you may be on your way to getting accepted for a mortgage. Of course, there are other methods, such as improving your credit score, when it comes to getting accepted for a mortgage.

Lenders will also want to know if your CCJ is linked to previously missed mortgage payments, bad management of finances or whether the CCJ and your financial circumstances impacted the property in any way.

Can I dispute a CCJ?

If you strongly feel like you shouldn’t have received the CCJ in the first place and you have enough evidence to show that it shouldn’t be in your name, you can dispute a CCJ if you want to do so.

Disputing a CCJ can be expensive and tricky, however, if you manage to get it removed from your records by doing so, it will be worth it in the long run. To appeal your CCJ, you will need to complete an N244 form and send it to the court. If they feel like there is enough evidence to back your case, they will arrange to have it re-opened and you may be on track to get the CCJ removed from your records. If the court agrees that you shouldn’t have received the CCJ, they will remove the CCJ from the Register.

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

The date that your CCJ was issued will affect your mortgage application. If you have only just been given the CCJ and there are large sums of overdue payments linked to your name, it may be more unlikely that you’ll be accepted for a mortgage. The longer that it has been on your records as a satisfied CCJ, the more likely it is that you’ll receive a mortgage offer.

If you’ve got a satisfied CCJ, yes it will be still on your credit file, however, the lender will be able to see that it’s been paid off which could aid your application. As a mortgage broker in Sheffield, we work with lots of different specialist lenders, each with their specialist criteria. It’s our mortgage advisors in Sheffield who will help you find a perfect deal that you will match with.

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

It may be possible to begin rebuilding your credit score after receiving a CCJ in Sheffield. There are a lot of different things that you can try to get your credit score back on track. There are many ways to improve your credit score, some include: registering on the electoral roll, closing unused credit accounts, removing your financial links to others and keeping your addresses up-to-date just to name a few examples.

If you are looking for bad credit mortgage advice in Sheffield, get in touch with our excellent team. Historically, after two decades of working within the mortgage industry, we have dealt with many clients applying for a mortgage with a CCJ. We may be able to help, it entirely depends on your circumstances.

Date Last Edited: February 28, 2024