Can you get a CCJ Mortgage?
Yes – There are mortgage lenders who will consider lending to clients who have a CCJ registered. As a guide, most high street lenders will require that CCJs that were registered over 3 years ago and are now marked as satisfied, plus you must pass their internal credit score. If you fall outside of the high street lender’s criteria there are other lenders available via mortgage brokers, such as The Money Hub, who will lend to clients that have CCJs registered within the last 3 years.
How to remove a CCJ
If you are able to fully satisfy and pay the CCJ within a month of being registered you are able to request that this be removed from the public register and also from your credit profile. To achieve this you will need to apply for a ‘certificate of cancellation’ form from the court where the judgment was issued and show proof of payment. It is always worth reviewing your credit profile to make sure the CCJ has been removed.
Can I get a mortgage with defaults?
Yes. The availability of lenders that will help you will depend upon many factors, such as the date of the defaults, how much the default was for, and what type of credit it was on. As a guide, most high street lenders require defaults to having been satisfied and registered over 3 years ago. If you have had a default registered within the last 3 years there are specialist lenders who could help and they offer their mortgages through brokers such as The Money Hub.
What is a default on a mortgage?
A default on a mortgage occurs when you have had excessive mortgage arrears. A default generally appears just before or at the beginning of the lender starting the repossession process. If you are in this position you should contact your mortgage lender to discuss your circumstances and try to come to an arrangement. The lender has a duty to Treat Customers Fairly and try to reach a suitable arrangement for all parties to help you get back on track.
DISCLAIMER: These articles are for information only and should not be construed as advice. You should always seek advice prior to taking any action.