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Can I get a mortgage with an unsatisfied CCJ?

If you owe someone money, they may apply for a County Court Judgment ordering you to pay it back. Those orders typically go by the common term of CCJs. Can I get a mortgage with an unsatisfied CCJ this post will explore this in more details.

As Citizens Advice warns, once you have a CCJ against you, it is likely to affect your credit rating – so, making it challenging to secure credit in the future and, most critically, a mortgage.

Simply having a CCJ against you, though, is by no means the end of the story. A record number of CCJs were issued in 2019, reported the Guardian newspaper recently – a volume that has doubled since 2012. A CCJ alone may not prevent you from getting a mortgage.

What is taken into account?

There is little doubt that a CCJ adversely affects your credit rating – and a healthy credit rating is the route to success in obtaining any kind of mortgage. The CCJ appears on your credit report, and that is the information held…

Can I get a mortgage with satisfied CCJ?

A record number of CCJs – or County Court Judgments – were issued in 2019, according to the Money Expert. The total of 1.17 million CCJs issued represented £1.7 billion of debt, an 8% increase in the comparable figures for the year before.

With so many individuals likely to be the subject of such judgments, therefore, it might be helpful to examine just what they are and address whether it is possible to get a mortgage with a satisfied CCJ.

What is a CCJ?

If someone – an individual or a company – believes that you owe them money and you have not responded to their requests for payment, they may apply to the county court requesting an order that you pay the amount owed.

The process is relatively straight forward, as is the communication of any order made by the County Court. As the official website explains, the CCJ is simply sent to you by post, at your last known address, stating:

the amount you owe; how to make payment – b…

What Credit Score For A Mortgage Is Needed?

What Credit Score For A Mortgage Is Needed? How is your credit score calculated?

It is calculated using the different types of data from your credit report : Minimum Credit Scores There is no official minimum credit score since lenders can (and do) take other factors into consideration when determining if you qualify for a mortgage. This posts look at What Credit Score For A Mortgage Is Needed in more details.

Other factors include type of job you have, how long you have been in your job. What amount of deposit you have. In some cases even the address you live at and how long you have been at the address can affect the decision.

There are things you can do in preparation but of course, it doesn't always work out that way, but if you have the time to do things like check your credit report (and fix any mistakes) and pay down debt before applying for a mortgage, it will likely to make getting a mortgage easier.

Can you still get a mortgage wit…