CCJs? Mortgages are still available to you

According to the National Debt helpline figures, 843,853 people had CCJs registered against them last year, up by a third on the previous year. It's the second year the figures have risen, which explains why the market for a CCJ mortgage has expanded.

What is a CCJ?

A CCJ is a County Court Judgement. It is the first step in the legal process that ends with bailiffs knocking on your door to reclaim the value of the debt you owe. You could even face repossession as a CCJ allows the lender to convert any unsecured debt into a secured one so that they can claim the debt against your property. If you have a CCJ then you will find it hard to find a mortgage or remortgage as lenders will see the CCJ as a 'bad mark' on your credit history.

What is a CCJ mortgage?

Like all financial sectors, the mortgage market has its own terminology which can often be a mystery, confusing and difficult to grasp. A CCJ mortgage is otherwise known as a 'medium adverse' or 'heavy adverse' mortgage, which will have a slightly higher interest rate because of the additional risk the lender believes it is taking.

Looking for a CCJ mortgage?

If you have a CCJ for failing to pay debt, it can be very difficult to find a High Street bank or building society to give you a mortgage. But there are specialist CCJ mortgages available. If you have past CCJs, it isn't necessarily a bar to getting a mortgage or even getting a better deal on an existing mortgage. While a CCJ will give you a record which affects your future ability to get credit for six years, CCJ mortgages are available from specialist lenders who offer a more flexible approach.

Why are CCJ mortgages available?

Because the number of CCJs has increased, lenders have seen an increasing number of consumers search out a CCJ mortgage and specialist lenders have created financial products to cater for this increasing market. Debt has never been so widespread and is fast becoming an accepted part of our culture.

Do you have CCJs? Mortgage help is on hand

Have you had mortgage arrears, bankruptcy, IVAs, outstanding credit card bills, defaults or CCJs? Mortgages are still available at competitive rates. If you are being refused finance or quoted high rates, go to a financial company that features specialists in the bad credit and CCJ mortgage market, they will help broker the ideal product for you.

Homebank have only qualified mortgage consultants ready to advise you with all your mortgage and insurance needs. For informative and insightful advice about the CCJs mortgage market, call us to arrange a no obligation appointment to suit you. Homebank are the 'people's mortgage broker' with over 2900 mortgage products to choose from, including products that are not readily available on the High Street. Homebank's experienced consultants could find the right product for you - call Homebank now on freephone 0800 052 3604.