The
secret is knowing where to look. Most high street lenders are
still quite conservative and inflexible in their approach to
lending – they have a fixed set of criteria for lending
mortgages, and if they can't tick every box, they simply reject
you – even if you are able to pay!
Fortunately,
there are a number of more specialist lenders
who take a different approach.
They
look at your circumstances individually, and decide whether
or not you can afford the mortgage – regardless of any
CCJs or other problems you may have had.
After
all, a CCJ might just be the result of an unlucky month off
work through illness or redundancy – through no fault
of your own. Having a County Court Judgement on your credit
record does not necessarily make you a bad credit risk.
Important:
CCJ Satisfaction
Although
there are plenty of lenders who will give you a mortgage if
you have CCJs, most of them will insist that the CCJs have been
satisfied.
Once
you have paid off a CCJ in full, you should notify the
court of this to ensure that your credit record is
updated - ie to show that the CCJ has been satisfied.
Once
you have notified the court, it will be a few weeks before your
credit record is updated – but this is a vital step, as
you will find it much easier to get credit once your CCJs are
satisfied.
How Do I Get A County Court Judgement Mortgage?
Getting
a CCJ mortgage is not as difficult as you might think, but you
will have to look away from the high street.
Conventional
lenders are not usually very flexible with people who have CCJs
and to get the best possible CCJ mortgage deal, you will need
to go through a specialist bad credit mortgage broker.
The
reason for this is that most of the lending companies who will
provide mortgages to people with judgements against them do
not deal directly with their customers – they prefer to
make their products available through mortgage brokers.
Specialist
mortgage brokers are usually independent and will have access
to mortgages from all lenders – including specialist and
high street lenders. This means they will be able to find the
mortgage that fits your needs best – taking into account
your County Court Judgements.
