A County Court Judgment (CCJ) is a court order in the UK that might get registered against you should you fail to repay the money that you owe. CCJ’s can negatively affect your ability to get a mortgage. However, good news, with the help of a Specialist Mortgage Broker in Nottingham we may be able to help you.
Your Mortgage Advisor will discuss the following with you in order to recommend the best mortgage for you with you’re CCJ:
🏠 The number of CCJ’s registered.
🏠 Amount of the CCJ.
🏠 Settled or unsettled.
🏠 Deposit size.
🏠 Date registered.
A County Court Judgement is issued if you fail to pay any outstanding money that you owe. A CCJ can have severe effects on your odds of getting a mortgage.
An unsettled CCJ will eventually disappear from your credit file after six years, however, it may be possible, with enough deposit, to get a mortgage within this time. Here we will explain how a CCJ affects your mortgage chances and how to get on the property ladder if you have Bad Credit in Nottingham.
Unless the claim got proved to be false or you paid the debt within 30 days, it might not appear on your credit history. However, if you failed to pay within 30 days, things become more arduous, but you are open to some options.
If the CCJ was recent and expensive, this could lower the chance of lenders willing to give you a mortgage. A CCJ often accompanies other credit problems stopping you from getting a mortgage.
🏠 Any issues involving money owed to a mortgage provider?
🏠 Did it affect the property?
🏠 Was the CCJ brought because you poorly managed your finances over an extended period?
This could help improve your chances: having a regular income, a clear credit history since the CCJ, getting CCJ settled or paying off a CCJ.
A growing number of lenders cater to applicants with CCJs, but the essential factor is how long ago the CCJ was. Going to an expert Mortgage Broker in Nottingham will be crucial. They can try and match you with the right deal if you suffer from a CCJ.
If you want to dispute a CCJ and want to re-open the case against you, you will need to make sure that you can supply enough evidence as to why you shouldn’t have been issued a CCJ in the first place. You can appeal to the CCJ by completing an N244 form. The fee will be pretty significant for them to re-open your case, however, if the court agrees that you shouldn’t have been issued the CCJ, it will be removed from the Register altogether.
Any CCJ longer than six years ago would have gotten removed. It would help increase your chances of passing a lenders criteria if your CCJ was more than four years old than one within the past year or two.
Each lender looks at CCJs differently. One lender might look at only when the CCJ was issued. Others will focus on when it got settled or if it got settled at all.
You need to prove it got paid within 30 days of being issued if it’s been over six years since you received the CCJ and successfully disputed it, or another party was proven responsible for it.
If you never received the CCJ initially and appeared on your file, you need to contact the court where the CCJ got made. You need to contact each of the credit reference agencies and get a ‘notice of correction’ added to your credit report.
You need to make sure you keep up to date payments on your CCJ and other credit agreements. If you think you might miss a payment, you need to contact the lender as quickly as possible and discuss your options.
Minimise applications for new credit, check your credit report and make sure all details are up-to-date. Check out our handy How to Improve Your Credit Score in Nottingham guide for further information.