How to get a Mortgage with CCjs
As the number of people with substantial debt is increasing year
in year, so is the number of people with CCJs against them. As a
direct result of this the number of mortgage brokers
specialising in lending to people with CCJs is also on the
increase. CCJ Mortgage Brokers
The reason for this increase in CCJ mortgages is mainly due to
the fact that the interest rates that the lenders are able to
charge are normally higher than with other borrowers. Whether or
not the mortgage lenders will lend to you is linked to the
amount of risk they see in you paying the money back. If you are
judged to be a high risk case, in other words there is a high
risk that you might not be able to pay the money back, then the
amount of interest you will be charged will also be increased. A
County Court Judgement is seen as an indicator of risk. This
does not mean that you won't be able to get a CCJ mortgage, it
simply means that if you are looking for a CCJ mortgage then you
will judged to be a high risk case and as such you can expect to
pay a higher rate of interest. CCJ Mortgage - First Steps
The first steps to be considered when applying for a CCJ
mortgage is to ensure that you have a "Certificate of
Satisfaction" if you have settled the amount of debt that you
owe or that if the CCJ is incorrect that you ensure that this is
corrected as soon as possible. If you pay the debt owed within
one month of the CCJ the CCJ may actually be removed from your
credit file completely.
CCJ Mortgage - Specialist Advice
When you have CCJ and you are looking for a CCJ mortgage it is
important to seek specialist advice from a specialist CCJ
mortgage broker. The more traditional mortgage lenders do not
tend to lend to people with CCJs as they deem the risk factor to
be too high. It is for this reason that you will need to get in
contact with a specialist CCJ mortgage lender as they will take
a different view on your circumstances. They will assess your
situation with a different set of criteria, looking for reasons
to lend rather than only seeing the risks involved. These
specialist CCJ mortgage brokers are the key to ensuring that you
get the CCJ mortgage that you require.