If you have a County Court Judgment (CCJ) against you, it can make getting a mortgage more difficult. However, it is not impossible. This blog post will discuss how to get a mortgage with a CCJ and provide some tips on increasing your chances of being approved. Keep in mind that every situation is different, so be sure to speak with a qualified mortgage broker for specific advice.
What is a CJJ?
A CCJ is a court order that says you must pay back the money you owe. If you do not pay the debt within 30 days, the CCJ will be recorded on your credit file. This can make it more difficult to get credit in the future, including a mortgage.
If you have a CCJ and want to apply for a mortgage, there are a few things you can do to improve your chances of being approved:
– Pay off the debt as soon as possible. This will show lenders that you are committed to repaying your debts.
– Make all of your payments on time. This includes any other debts or bills you may have. Lenders will look at your overall payment history when considering your mortgage application.
– Improve your credit score. There are a number of ways to do this, such as paying off debts, making all payments on time, and using a credit monitoring service.
– Speak with a qualified mortgage broker at Airborne mortgage solutions. They will be able to advise you on the best course of action and help you find a lender that is willing to approve your mortgage application.
Removing a CCJ from your file
If you have paid off the debt within 30 days of the CCJ being issued, you can apply to have it removed from your credit file. This is called a ‘set-aside’. If you have not paid off the debt within 30 days, you can still apply to have the CCJ set aside, but you will need to provide evidence that there were extenuating circumstances that prevented you from doing so. For example, if you lost your job or had an unexpected medical bill.
Once the CCJ has been set aside, it will be removed from your credit file and will no longer impact your ability to get a mortgage.
Does the size of the CCJ affect my mortgage application?
The size of the CCJ will not necessarily impact your mortgage application. However, if the CCJ is for a large amount of money, it may make it more difficult to get approved. This is because lenders will view you as a higher-risk borrower.
If you have a CCJ and are looking to apply for a mortgage, there are a few things you can do to improve your chances of being approved. Pay off the debt as soon as possible, make all payments on time, and improve your credit score. You should also speak with a qualified mortgage broker who can advise you on the best course of action and help you find a lender that is willing to approve your mortgage application.
It is possible to get a mortgage with a CCJ. However, there are steps you need to take in order to improve your chances of being approved. Pay off the debt as soon as possible, make all payments on time, and improve your credit score. Contact our specialists at Airborne mortgage solutions, and we will go through your options with you. We understand that everyone’s situation is different, and we will tailor our services to you. Contact us today!