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If you have been hit with a CCJ, it can be very difficult to obtain a mortgage. However, there are still options available to you and we can help you find the most suitable one.
At Echo Finance, we are expert mortgage advisors who have helped many people in your situation and we will do everything we can to get you the best possible deal. We will search the market for you and provide you with tailored mortgage advice to ensure that you are getting the right mortgage for your individual circumstances.
If you would like to speak to one of our advisors about CCJ mortgage advice, please contact us today. We would be more than happy to help you through this difficult time.
What is a CCJ?
A CCJ is a County Court Judgement and it can be issued if you fail to repay a debt that you owe. Once a CCJ has been issued, it will appear on your credit report for six years and this can make it more difficult to obtain credit in the future.
How Long Does a CCJ Stay on Your Credit Report?
A CCJ will remain on your credit status for six years, even if you have paid it off in full. This can make it more difficult to obtain credit during this time, but it is still possible to do so.
Is It Possible To Get a Mortgage With a CCJ?
It is still possible to get a mortgage if you have been issued with a CCJ, although it may be more difficult than if you had a good credit rating. However, there are specialist lenders who are willing to lend to people in your situation and we can help you to find one that is most suitable for your needs.
Most mainstream lenders will not consider applications from people who have CCJs or an adverse credit history in general, but there are a number of specialist bad credit mortgage lenders who may be willing to lend. The interest rates and terms offered by these lenders will vary, so it is important to compare different deals before deciding which one is right for you.
If you can, it will be easier to have your mortgage application approved once your County Court Judgement has been satisfied and 6 years have elapsed. This means that you have paid off the debt in full and the CCJ will be removed from your credit report.
At Echo Finance, we are experts in bad credit mortgages and we can help you to find the most suitable deal for your individual circumstances.
Can I Get a Mortgage if My CCJ Is Satisfied?
With a satisfied CCJ, it will still be on your credit record for six years but some lenders may be willing to lend to you. This is because the CCJ will have been paid off in full and this shows that you are now able to manage your finances correctly.
However, you may still find it difficult to be accepted for a mortgage if you have other adverse credit such as defaults or missed payments.
It is always best to speak to a mortgage advisor to find out what your options are and to get expert advice on which mortgage would be most suitable for your individual circumstances.
Can I Get a 5% Mortgage With a CCJ?
CCJ mortgages (or any other type of adverse credit mortgage) will usually have a higher deposit requirement and a higher interest rate than a standard mortgage. This is because you will be seen as a higher-risk borrower by the mortgage provider.
The deposit required for a CCJ mortgage is relative to the age of the CCJ. For example, if your CCJ is less than 1 year old, you may be required to have a deposit of 25% or more. However, if your CCJ is more than 3 years old, you may only need a deposit of 5%.
Can Mortgage Lenders See CCJ After 6 Years?
Once a CCJ has been satisfied and 6 years have elapsed, it will be removed from your credit file. This means that lenders will not be able to see it when they carry out a credit check.
However, if you have other adverse credit such as defaults, missed or late payments, this may still be visible on your credit report and this could make it more difficult to be accepted for a mortgage.
It is always best to speak to a mortgage advisor to find out what your options are and to get expert advice on which mortgage would be most suitable for your individual circumstances.
Can You Get a Mortgage With Bad Credit and CCJ?
With a bad credit history, you will struggle getting a mortgage approval from a mainstream mortgage lender. However, there are a number of specialist lenders that will consider your mortgage application if you have bad credit, including a CCJ on your credit report.
CCJ lenders will often require a larger deposit than what is typically asked for by mainstream mortgage providers, and the interest rates charged will be higher. However, if you are able to meet these requirements, then you may be able to get a mortgage with bad credit and CCJ.
If you would like to learn more about getting a mortgage with credit issues, then please contact us today and we can put you in touch with one of our specialist mortgage advisors.
How to Get a Mortgage If You Have A CCJ
If you have a CCJ, the first thing you should do is try and pay it off as soon as possible. Once it has been paid, it will still remain on your credit report for 6 years but after this time, it will be removed.
Some lenders may be willing to lend to you even if you have a CCJ on your credit report, provided it has been satisfied and is over 6 years old. However, you may still find it difficult to be accepted for a mortgage if you have other adverse credit such as defaults or missed payments.
It is always best to speak to an experienced mortgage broker to find out what your options are and to get expert advice on which mortgage would be most suitable for your individual circumstances. The mortgage application process can be complex, especially if you have a poor credit history, so it’s important that you have someone on your side who can guide you through it.
We would recommend working with mortgage brokers who have access to the whole of the market, as they will be able to search for the most suitable mortgage deals for your individual circumstances. They will also be able to negotiate with lenders on your behalf to try and get you the best possible mortgage deal while boosting your chances of approval.
Tips to Improve Your Chances of Mortgage Approval with a CCJ
If you have a CCJ and are looking to apply for a mortgage, there are a few things you can do to try and improve your chances of approval:
- Pay off the CCJ: As mentioned above, if you can pay off the CCJ this will be seen as a positive by lenders and will improve your chances of being accepted for a mortgage.
- Wait until the CCJ is over 6 years old: Once a CCJ has been satisfied and 6 years have elapsed, it will be removed from your record. This means that lenders will not be able to see it when they carry out a credit check.
- Improve your credit score: If you have a CCJ this will likely lower your credit score. There are a number of things you can do to try and improve your credit score such as making sure you always make your payments on time, paying off any outstanding debts, and regularly checking your credit report for errors.
- Save up for a larger deposit: As mentioned above, lenders who are willing to lend to people with bad credit will often require a larger deposit than what is typically asked for by mainstream mortgage providers. If you are able to save up for a larger deposit, this will improve your chances of getting approved for a mortgage.
- Get expert advice: The mortgage application process can be complex, especially if you have bad credit. It’s important that you seek expert advice from a mortgage broker who can guide you through the process and help you find the most suitable mortgage deal.
Speak to an Expert
We've helped many people get the best mortgage for their circumstances, whether they have a low credit rating, late payments, debt management plans or a CCJ registered in their name. We understand that every situation is unique, which is why we offer a bespoke service to each and every one of our customers.
Getting a mortgage with a CCJ can be difficult, but it’s not impossible. If you would like to speak to one of our expert mortgage advisors about your options, then please contact us today. We’ll be more than happy to help and we will give you impartial and independent mortgage advice.
Find your local adviser
Frequently Asked Questions
Below you will find the answers to the questions we hear most often from Echo Finance customers:
A mortgage broker, or a mortgage advisor, is an intermediary who acts as a conduit between an aspiring borrower and a lender. It is their job to provide the mortgage applicant with impartial advice, help them choose the right product and arrange the deal with the lender.
Brokers provide services including advice on which type of mortgage to choose, providing access to exclusive rates through their lender contacts, and application support. Some can offer advice on all areas of the mortgage market, while others specialise in niche fields such as buy-to-let, bad credit, commercial finance, first-time buyers or self-employed borrowers.
People choose to apply for their mortgage through a broker because it can boost their chances of finding the right deal, while saving time and money in the long run.
- Residential mortgages: Everything from fixed-rate to tracker mortgages for first-time buyers, homemovers and remortgage borrowers
- Specialist mortgages: For borrowers who fall outside of standard lending criteria, including people with bad credit, self-employed professionals and more
- Later-life lending: Including advice on equity release, mortgages for pensioners and retirement interest only (RIO) mortgages
- Bridging & Commercial: We have specialist advisors on hand for commercial mortgages, bridging loans, development finance and more
- Insurance & Protection: Including life, home and critical illness cover for families and individuals, as well as landlord and business protection insurance
Echo Finance is regulated by the Financial Conduct Authority and is reviewed annually by an independent compliance company. All of our brokers and advisers hold industry-standard qualifications, such as CeMAP, CeRER and DipMap, where required.
We are committed to providing advice through the channels that best suit your needs. Our brokers can provide advice via phone, email, video and web chat from anywhere in the UK, but we also aim to offer face-to-face appointments for those who request them.
