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Can I get a high street mortgage with CCJs, Defaults?

CCJ Mortgage - https://nichemortgageinfo.co.uk/ccj-mortgage/<br>If you have a County Court Judgement (CCJ) on your credit file, you could be forgiven for thinking that there’s little to no chance of getting a mortgage approved. In fact, via traditional lending routes, you’re more than likely right, as that kind of black mark against your name is normally fatal to an application made to a high street mortgage company.

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Can I get a high street mortgage with CCJs, Defaults?

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  1. Can I get a high street mortgage with CCJs, Defaults?

  2. Factors A lot of people assume that factors like CCJs and defaults on their credit report will automatically rule them out for getting a mortgage. This is not the case. Time heals most things on a credit report, so if you can wait it out, you can often get a mortgage without any issues. A CCJ will stay on your credit report for six years, even if you settle it sooner. After six years, it will drop from your credit report and you can begin to build your credit from scratch.

  3. High Risk The majority of high street lenders will not accept applications from those with CCJs as they use the credit report as a way to measure risk. A person with a CCJ is considered higher risk as they have a history of struggling to pay back debt. The same can be said for defaults, which also stay on your credit file for six years. However, the credit report is only one factor in their lending decision. In some cases, high street lenders will accept applications from individuals with a higher deposit. If you can secure a deposit of around 20-30%, you will increase your chances of being accepted.

  4. Worth Noting It’s also worth noting that not all high street lenders are the same. If you are rejected by one, it doesn’t mean that you will be rejected by all. It’s best to shop around and speak to a specialist mortgage advisor who will be able to review your situation and advise you on the lenders most likely to accept your application.

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