This is a common question and the answer is yes, perhaps.
There are a variety of criteria that a mortgage lender will set before they will consider lending. Some lenders will not lend to a borrower with previous CCJs but others will, dependent on the facts. Of course, the riskier a borrower is deemed to be, the more expensive the mortgage is.
First of all, we need to know a few facts. For example;
- When was the CCJ incurred?
- What was the CCJ for and for how much?
- How many CCJs do you have?
- Are they satisfied or unsatisfied?
- What sort of property are you proposing to buy?
- What do you earn? In other words, is the mortgage affordable?
- What deposit do you have available?
Most lenders like to see a period of more than three years since a CCJ was registered and its preferable, but not essential, that a CCJ was satisfied (cleared) for 12 months or more.
The amount a CCJ is for is less important than timing, but in most cases it’s preferable that it be below £2,500 if you want to borrow 85% of the property’s value. Most lenders will need the sum to be less than £1,000 if the CCJ is recently acquired (i.e. in the last 12 months).
In simple terms, the larger the deposit you can find the better your chances of obtaining a competitive mortgage offer, even with a CCJ. If the CCJ has been cleared (satisfied) it helps but some lenders won’t insist on this, especially where the CCJ is older than two years.
The amount you can borrow will vary, but 4 or 5 times income may be achievable, subject to affordability criteria. Most lenders will require a 15% deposit on this basis but criteria are changing regularly.
If you have a question about CCJs and how they can affect your ability to get a mortgage, you need to speak to an Independent Mortgage Adviser.
Related Blog articles:
- Can I get a Mortgage with a Bad or Poor Credit rating?
- How to Improve Your Credit Score
- What Credit Checks do Mortgage Companies do?
For more information speak to a mortgage adviser on 01628 507477 or contact us .
Recent posts
Stamp duty: how is it changing in 2025?
8 days ago
Helping you understand the upcoming changes in stamp duty (SDLT) from April 2025.
UK homebuyers and homeowners are hoping for stability in 2025.
We are hoping that mortgage rates will ease this year, but how drastically depends on inflation trends, swap rates, and the Bank of England’s decisions in which way the base rate should go.
Budgeting over the Christmas Period
3 Dec 2024
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
Preparing your home to sell in winter
29 Nov 2024
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
UK 2024 Autumn Budget: Housing
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
Talking about money with kids
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
Labour Autumn Budget Predictions: Housing
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
More information
Trusted by
