Expert CCJs Default Mortgage Advice

If you are in CCJs default, mortgage advice is essential to ensure you get the best mortgage product for your needs

What is a CCJs default mortgage product?

Whilst not a specific industry term, anyone who has had problems clearing their CCJ debts can apply for a mortgage, which can be known as a CCJs default mortgage. Although there are many products that are designed for people with bad debt or an adverse credit history, a CCJs default mortgage product requires specialist advice. If you are unable to clear your CCJs debt, then a mortgage lender may find it difficult to see you as a good risk for a large loan such as a mortgage, and so you may find that higher interest rates or special restrictions apply. The best way to find out if there is a product that suits your CCJ default mortgage needs is to seek professional advice.

How can I get CCJs default mortgage advice?

If you have had one or more County Court Judgements (CCJs) against you, you are required to pay the debt as soon as you can. If you can pay the debt before it is registered on your credit rating, then you can avoid adding the CCJ to your credit history. If this is not the case, then the CCJ will stay on your credit history for a period of six years, whether or not you clear the debt in the meantime. Defaulting on a CCJ judgement can be detrimental to your credit rating, because the CCJ would have been issued in the first place for non-payment of debt. If you then neglect to address the CCJ, your credit rating can suffer.

If you are in CCJs default, mortgage advice is essential if you want to buy a property. There are a lot of specialist products available to CCJs default mortgage applicants, and the market is increasing because of the rise in the number of people who are having CCJs issued against them. It is estimated that in England and Wales , over one million people have CCJs issued against them each year. This has resulted in a greater demand for mortgage products and in a wider range of products become available for the various types of credit problems that now exist.

You can get CCJs default mortgage advice and information by contacting a specialist mortgage broker. By law, today's mortgage broker has to be both professionally qualified and regulated by the Financial Services Authority (FSA). These measures have been introduced to protect consumers like you and all mortgage brokers must follow fixed guidelines. If you need a CCJs default mortgage, you need to make sure that the broker you choose has CCJs default mortgage experience. The products can be as complex as your financial situation and it is important that the broker understands both areas before he or she recommends any products to you. Taking on a CCJs default mortgage is a big commitment and you, the broker and the lender must be sure that you are able to handle such a commitment before the loan is agreed to.

Will a CCJs default mortgage be expensive?

If you are applying for a mortgage, then you should be aware that a CCJs default mortgage lender will charge more for your loan than a standard mortgage lender will. This is because there is more risk attached to your loan than to people who have not had debt problems. Today, however, interest rates and charges are much more competitive than a few years ago, because there is a more competitive market. So although the cost to you will be higher than a standard mortgage, they will not be as high as you might imagine.

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