Mortgages if you had a previous satisfied CCJ
Best Mortgage Rates
Mortgages if you had a previous satisfied CCJ
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- Lloyds Bank
- 4.07% Initial
- 5 year fixed
- 6.6% APRC
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- 4.10% Initial
- 5 year fixed
- 6% APRC
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Cashback £0Free LegalsFree Valuation
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- 4.14% Initial
- 5 year fixed
- 6.3% APRC
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- 4.17% Initial
- 5 year fixed
- 6.4% APRC
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- 4.17% Initial
- 2 year fixed
- 6.7% APRC
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- Halifax
- 4.18% Initial
- 5 year fixed
- 6.7% APRC
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- Halifax
- 4.18% Initial
- 5 year fixed
- 6.7% APRC
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- 4.19% Initial
- 5 year fixed
- 6% APRC
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Cashback Max £1,250Free LegalsFree Valuation
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- 4.19% Initial
- 2 year fixed
- 8% APRC
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- 4.20% Initial
- 5 year fixed
- 6% APRC
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Mortgages if you have had a previous satisfied CCJ
If you have an adverse credit history, you may worry whether you can get a mortgage due to defaults, County Court Judgments (CCJS) or other previous issues with borrowing. Although getting a mortgage with a satisfied CCJ is not impossible, there are a number of other factors that will also impact your mortgage eligibility.
In determining how much account a lender will take of a CCJ, it will depend on its size and when it was filed. CCJs that were satisfied more than six years ago are also removed from your credit report. While a CCJ is a relatively severe credit issue, if you can demonstrate that you have subsequently taken control of your finances and have not had any problems with credit since then, lenders will be more likely to consider you a responsible borrower, and you will have more options for obtaining a cheaper mortgage.
You can still secure a buy-to-let mortgage even if you have previous credit issues, although there are more options for residential bad credit mortgages.
Your mortgage options will also be limited if you have other credit issues. Mortgages generally operate on a sliding scale, with the cheapest mortgages available to those with excellent credit histories, since they pose the lowest risk to lenders.
CCJs or bankruptcy on a borrower's file can make it more difficult for them to qualify for a mortgage, but as lending to these types of applicants can pose a higher risk, interest payments on these types of mortgages can be significantly higher than what would be available for someone without major credit problems. The affordability criteria for these mortgages may also be more restricted than those for borrowers with better credit scores.
By putting down a larger deposit, you will have access to more mortgages as well as a lower interest rate.
You may benefit from consulting an independent mortgage adviser before applying for home financing, regardless of your credit score. The FCA-approved professional intermediaries can provide you with impartial mortgage advice, as well as search out the best mortgage products that meet your specific requirements and assist you with the application process using their expert knowledge of the entire mortgage market.
Furthermore, there is a range of non-high street lenders that offer specialist mortgages, one of which might be right for you; these lenders, however, require the assistance of a professional intermediary.
As your mortgage is such an important transaction, good advice is imperative.
To investigate your finance options call our broker team or fill in our call back form - speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464