Mortgage For People With CCJs | How To Pick The Best One For You

How To Source A Mortgage For People With CCJs

If you need to source a mortgage for people with CCJs (County Court Judgements) then you have a number of options for doing so. The reason that you might need a mortgage for people with CCJs is that you might have had problems with debt in the past. If you have, you are certainly not alone. Hundreds of thousands of people in Britain miss at least one mortgage payment each year. This is often around Christmas, when money has to stretch further than usual. Many other people may need a mortgage for people with CCJs because they have missed a credit card payment. Thousands of us are struggling to cope with rising interest rates and fuel costs, which are taking a toll on affordability, so there's more and more demand for a mortgage for people with CCJs.

So how do you get one? By far the easiest way to get a mortgage for people with CCJs is to approach a mortgage broker. The broker might have deals from a panel of lenders or from the whole UK market and will be able to advice on the right mortgage for people with CCJs. In order to get the best from working with a broker, you will need to let the broker know about all your adverse credit circumstances. Having CCJs is one thing; being a bankrupt is another. Even with a satisfied bankruptcy behind you, a mortgage for people with CCJs is possible, though since lenders provide deals based on the most adverse of the adverse credit circumstances, bankruptcy may change the deal you are able to get.

What's The Value Of Your CCJs?

Even if you have CCJs alone, a mortgage for people with CCJs will depend on the value of the CCJs and may also depend on whether they have been paid or unpaid. Some lenders don't mind whether CCJs have been paid or not; while others will expect them to have been satisfied. Some lenders who provide a mortgage for people with CCJs want to see that the CCJs are not recent and will impose conditions such as not having any within the last three or six months.

In addition to these conditions, someone who provides a mortgage for people with CCJs will alter the deal depending on the value of those CCJs. So if you have had £500 worth of CCJs you will get a better interest rate on your mortgage for people with CCJs than someone who has £5,000 worth of CCJs. All of these factors will be taken into account when your broker is trying to find the best mortgage for people with CCJs.

Mortgage brokers tend to work either by fee or commission, which makes a difference to the payment arrangements. If your broker works by fee, then you will have to pay a set fee to the broker. If your broker works by commission, that fee is paid by the mortgage lender. Either way, the broker will use all the available information to find the most suitable mortgage for people with CCJs.

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