Thank you Michael and Karen for everything you have done for us. Dan and Chantelle — Dan Webb — Reviews. Buy to Let Mortgages On a very positive note we now have far more lenders who will accept a degree of historical bad or adverse credit in this very competitive market. Mortgage for Discharged Bankrupts We offer a range of mortgage products for those who are discharged bankrupts.
Can We Help? Getting a Mortgage with a CCJ. Types of Bad Credit. Turned down elsewhere? We can help! Latest Bad Credit Mortgage News. Bad Credit. Bad Credit Mortgages. Mortgage with CCJs. Bad Credit Buy to Let. Refused a Mortgage. Help to Buy Equity Loan. Fixed Rate Mortgages. Tracker Rate Mortgages. Standard Variable Rate Mortgages. HMO Mortgages.
First Time Buyer Mortgages. Capped Rate Mortgages. Repayment Mortgages. Other lenders will allow you to satisfy your CCJ right before you apply. After assessing the date of your CCJ, lenders will calculate its total value. Your CCJ amount still plays a very important role in assessing your mortgage application. If your CCJ was more recent within the last 12 months then there may be limits to how much you can borrow.
As time goes on, the amount of your CCJ becomes more and more irrelevant. The number of CCJs you have registered against your name will also affect your mortgage chances. Lenders may also require the CCJs to be over a year old. For instance, one lender may restrict CCJs to a maximum of two.
The good news is, not all lenders are the same and may still consider your application, no matter how bad you may think your situation is. You can then see the exact details of the CCJs, such as the dates, amounts and the number of CCJs you have against you. Some credit websites allow you to view all of your credit reports in one place. Download your credit reports here. In all cases, the higher your deposit is, the more favourable lenders will be.
If you already own your property and are looking to move or remortgage, then applying for a mortgage with a CCJ is perhaps the easiest of scenarios.
The good news is that there are still lenders that may consider you in these circumstances. Buy to let mortgages are next in line and are perhaps the most difficult to obtain when you have a CCJ. Lenders may require you to satisfy your CCJs before applying and will generally require a large deposit. Other lenders may only lend if your CCJ is over two years old.
There are specialist lenders available for when things get really tough. Read more: How to get a buy to let mortgage with bad credit. If you have a CCJ, the amount you can borrow is based largely on the details of your CCJ in addition to your income and deposit amount.
Lenders may restrict the mortgage amount to four times your annual income if you have a CCJ. If your CCJs are older than two years, then you may be able to borrow up to five times your annual income. Applying for a mortgage with a CCJ can get very complex depending on your situation. This is because there are many different factors that lenders use to assess an application. If you are purchasing a buy to let property then these lenders are much more restrictive when it comes to CCJs and defaults and you may either be required to provide more deposit or wait until they are of a certain age longer than for residential before you can apply.
Secured loans for people with CCJs are actually the most flexible and if the borrower has sufficient equity they may be able to obtain further borrowing on their property even if they are declined for a straightforward CCJ remortgage. If you have any other credit history issues then these may well impact the likelihood of approval. Other more severe issues such as debt management plans, IVAs , repossessions and bankruptcy can cause further issues but a mortgage with a debt management plan or a mortgage with an IVA may still be possible.
These specialist lenders may offer a lesser amount on their affordability models than the high street, and some restrict lending to Many of the specialists considering mortgage applications for customers with CCJs are stricter when it comes to CCJs, and many of them not all only accept a lesser number and size, also stipulating they are repaid and satisfied prior to application. Can I get a Mortgage with Bad Credit?
Get in touch today! Want to get a mortgage after being made bankrupt? We have been helping discharged bankrupts for many years now. We know all the lenders that can help. Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes.
The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision — to help as many customers as possible get the right advice, regardless of need or background. Pete also writes for OMA of course! Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information.
The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA.
Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it. Maximise your chances of approval, whatever your situation. Find your perfect bad credit broker.
Learn more Accept. Find your perfect broker Call us Getting a Mortgage with a CCJ is not the only thing your lender will consider. They will also have eligibility requirements that you will need to meet to improve your chances of successfully applying for a mortgage.
They are:. Read our full guide on applying for a mortgage after an IVA. Fortunately getting a mortgage with a CCJ or defaults is possible and your options will be more abundant if you have a satisfied CCJ. If you have an unsatisfied CCJ, many lenders require you to pay it off before applying for a new mortgage, yet there are still lenders available who do offer mortgages to those with unsatisfied CCJs and defaults.
Thankfully, a CCJ will not stay on your file permanently and will be removed at the end of the 6 year period. Even better, you do not need to wait to apply for a remortgage and you may have the opportunity to secure one, even with a CCJ against you. Have you ever been refused a loan or credit in the past? There are many potential reasons for this, one of them being if you have had a CCJ placed against your name. There is a small fee to do this, so the alternative and often free method is to ask the credit reference agency.
Regardless of your credit score and whether it has a CCJ recorded, getting a mortgage with a CJJ is just like any other applicants and an affordability assessment will be completed on you.
This is to determine the mortgage rate amount and the interest rate you will be offered. If you have a CCJ on your credit report, this might result in you being assessed in a different way. Typically, those with a CCJ will not be able to borrow as much as those with a clean credit file and the associated costs will be higher e.
This is even more applicable to those with unpaid or recent CCJs. It is not all bad news though. You could still get a great mortgage deal with or without a CCJ.
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