Can You Get a Mortgage With a CCJ?

County Court Judgements can be a blow to some people’s financial prospects, particularly if you are in a position where you can’t pay back the full amount in a suitable time frame.

How does a CCJ affect your ability to get a mortgage?

Unless you pay the full amount within a month, County Court Judgments can affect your ability to get credit. If your credit score has been affected by a CCJ this could make it more difficult to get a mortgage. However, the good news is that there are specialist brokers who are able to work with poor credit. In other words, it is possible to get a mortgage with a CCJ.

A CCJ will stay on the Register of Judgments, Orders and Fines for 6 years. This is something that banks and mortgage lenders will be able to see. It will be taken into account when deciding whether to approve a loan.

How to minimise the impact of a CCJ?

There are two things you can do to minimise the impact of a CCJ:

• Pay the full amount within a month

This will mean you can have the CCJ completely removed from the register.

• Pay the full amount before trying to secure a mortgage

This will mean your CCJ will be listed as ‘Satisfied’ on the register, showing to potential lenders that it’s been paid in full and is no longer an outstanding debt.

If you haven’t paid a CCJ because you can’t afford to, this could make it difficult to secure a mortgage – especially if the amount of outstanding debt exceeds a certain amount.

However, there are factors that can improve your chances of getting on the property ladder.

From finding a guarantor, to choosing a joint mortgage with a partner who has a good income, credit score and plenty of savings – all of these can be taken into account when determining whether to approve a mortgage application.

Speak to a specialist mortgage broker today

A specialist broker will filter out the mortgages that you’re not eligible for and determine how much you can realistically afford to pay in monthly payments based on your financial circumstances.

If your credit score has been impacted by a CCJ, speak to one of our professional mortgage advisors at Agentis today. Our specialist advisors can provide actionable advice on how to get your credit score back on track.