Bad Credit Mortgage Advice in Birmingham
Unfortunately, the bad news is a County Court Judgment can negatively affect your ability to get a mortgage. However, the good news is that with the help of a Specialist Mortgage Broker in Birmingham, you may be able to secure a mortgage with a CCJ.
Our knowledgeable and Specialist Mortgage Advisors in Birmingham will discuss the following with you and advise you on the best mortgage for you with you’re CCJ:
- The number of CCJ’s registered.
- The amount of the CCJ.
- It is settled or unsettled.
- What is the Deposit size?
- When was the date registered?
What is a County Court Judgement (CCJ)?
A County Court Judgement is issued if you fail to pay any outstanding balance that you owe. A CCJ can have a drastic effect on your chances of getting a mortgage.
A settled CCJ disappears from your credit file after six years. However, it is usually achievable 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 Birmingham.
Can I Still Get a Mortgage If I Have a CCJ?
If your CCJ appears to have been given to you falsely or you’ve paid the outstanding balance within 30 days, it might not make an appearance on your credit history. However, if you failed to pay within 30 days, things become more complex and you may end up with the CCJ on your credit file for 6 years.
If you’ve recently received a CCJ, the chances of lenders willing to give you a mortgage will be lowered. 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 are starting to account for applicants with CCJs, but the essential factor is how long ago the CCJ was. Going to an expert Mortgage Broker in Birmingham will be crucial, we can try and match you with the right deal if you suffer from a CCJ.
Can I dispute 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 a CCJ by completing an N244 form. You should know that the fee may be pretty large 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.
Does the date of my CCJ make much of a difference?
Any CCJ that you’ve received longer than six years ago will have been 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 may focus on when it got settled or if it got settled at all.
Can I get a CCJ removed from my credit report?
You need to prove that it got paid within 30 days of being issued; for example, 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 it appeared on your file, you need to contact the court where the CCJ was issued and ask why it has appeared on your file. You need to contact each of your credit reference agencies and get a ‘notice of correction’ added to your credit report.
How do I improve my credit score after receiving a CCJ?
You need to make sure you keep up-to-date with 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 free, handy ‘how to improve your credit score in Birmingham‘ guide for further information.
Date Last Edited: September 2, 2024
