Mortgage Sorter | What Kind Of Mortgage Can I Get With a CCJ?

Mortgage Guide
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Mortgages for people with a bad credit history
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County Court Judgement Mortgages / CCJs

Intro

What Are County Court Judgements?

Can I Get A Mortgage If I Have A CCJ?

How Do I Get A County Court Judgement Mortgage?

What Kind Of Mortgage Can I Get With A CCJ?

How to Repair Your Mortgage Credit Rating

County Court Judgment Mortgages: Frequently Asked Questions

What kind of mortgage can I get with a CCJ?

You're probably expecting some bad news at this point – perhaps you think that a Judgement mortgage will inevitably mean sky-high interest rates, or that you will not have any choice.

First The Good News

The good news is that this isn't true for most people. As long as your CCJs are satisfied - ie you've paid off your bad debt - and you can show that you are earning enough money to meet the mortgage payments, you should get a choice of mortgages – just like a regular borrower:

Fixed or variable rate
Trackers and discounted rates
Choice of terms (how many years the mortgage is for)
Borrow up to 100% of the value of your property

Now The Bad News

Although you will probably have no problem in getting a mortgage, you will have to pay a slightly higher mortgage interest rate than a lender with no County Court Judgements.

The reason for this is risk.

Rightly or wrongly, people who have had CCJs are seen as higher risk – more likely to get into arrears on their mortgage payments. However, you can prove them wrong!

How to Repair Your Mortgage Credit Rating

If you keep up with your payments for three years on a CCJ mortgage, your credit rating will improve (despite the CCJ).

You will have provided clear proof that you have put your money problems behind you and can now be trusted with a lower interest rate.

That's right – after three years, you will have a good chance of being able to remortgage onto a "prime" mortgage – a mortgage aimed at people with good credit ratings. These mortgages have the lowest interest rates, as they represent the lowest risk for lenders.

Read On County Court Judgment Mortgages: Frequently Asked Questions

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Value of Property	£
		(eg 125000)

Borrow How Much?	£
		(eg 92500)

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First time buyer?		Yes No
Have you found property?		Yes No
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