Finding a mortgage with a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders available in this market. Having the advice of a qualified Poor Credit Mortgage Broker will greatly enhance your chances. With only a few sub prime lenders to choose from, getting it right first time is very important.
Steven Neale – Specialist Bad Credit Mortgage Broker
Our experience as first time buyers was simply exceptional! We have been guided through the mortgage process and buying our first home has been an easy journey thanks to your professionalism and efficiency.
13th Jan 2022
After thinking I was going to lose the new home I had fallen in love with, Steven worked hard with me and understood my circumstances. I was at the point of nearly giving up and within 4 weeks I had a full mortgage offer. Thank you for making my dreams come true. I would highly recommend your services. Absolutely no bull or jargon.
10th Jan 2022
The service we have received has been amazing. We were kept up to date every step of the way. Honestly, the relief on my face when I received your email with the mortgage offer was priceless. I can not thank you both enough you are both amazing at what you do. We can not thank you enough for everything, Thank you so much, you have made our dreams a reality.
4th Nov 2021
Thank you foremost for choosing to specialise in adverse credit services for people. All we read online is that it is not possible or easy to get any form of credit when you have or settle an IVA and I’m so glad I kept looking and found you. You have helped us more than you’ll ever realise. We are so happy to have a chance to start again and be able to remain on the property ladder, all thanks to you.
1st Nov 2021
SN Mortgages gave me a chance when no other brokers would. They listened and empathised with my situation. Advised me accordingly and supported me throughout my journey. Highly recommend.
11th Oct 2021
Steven & Sue have been absolutely amazing through the whole process – extremely calm, organised and helpful. We will definitely be using them in the future and would highly recommend them to family & friends.
20th Sept 2021
Steve and Sue have been absolutely amazing. I was really worried about my financial history meaning I wouldn’t be able to get a mortgage but they were nothing but supportive and non-judgemental, always available to explain things and answer questions as well as extremely efficient.
18th Jan 2022
Steve and Sue were very professional and provided an excellent service. Great communication throughout keeping you up to date at all times. Overall a smooth process, would highly recommend.
24th Aug 2021
Struggling to ‘get back’ on the housing ladder after 15 years and being ‘self-employed’ was proving near enough impossible, until we found Steve & Sue. They found us a lender that would use my ‘day-rate’ rather than the usual ‘self-assessment’ and even though there was stumbling blocks along the way, they get us over the line with a ‘mortgage offer’! We can’t thank them enough and would definitely have no hesitation in using them again!
28th July 2021
A fantastic service provided by SN Mortgages once again. Highly recommend SN Mortgages, they have been brilliant at finding the best rates for us, keeping in regular communication and quite frankly achieving the impossible! Where other brokers fail to come back to us or could not find a deal, SN would always go the extra mile and revert back. Thank you so much!
22nd July 2021
We are so grateful to Sue and Steve for all their effort in helping us get our mortgage. Their knowledge and clear love of their job shines through and they have been on hand to answer all our questions no matter how silly or small. They have clearly explained everything from start to finish which has made us feel so much more at ease throughout the whole process. We can’t recommend them enough!
1st July 2021
Can I get a mortgage with CCJs?
CCJs are often perceived as some of the most serious credit issues a person can have, so it’s natural to assume that getting a mortgage with a CCJ might not be possible. However, I worked with several lenders who are willing to provide mortgages to those with 1 or more CCJs. Understanding each lender’s criteria when it comes to CCJs is key, as well as balancing this with other credit issues if present.
Getting a mortgage with a CCJ
I have a fair degree of sympathy when it comes to finding a mortgage with CCJs because any one of us could end up having one on our credit file through no fault of our own.
An illness or redundancy suddenly means you are unable to pay the next installment on a car loan or credit card and a County Court Judgment has been registered on your credit file.
As with any form of adverse, the most important considerations a lender will want to know when looking at the County Court Judgements on your credit file is the date they were registered, the amount and if they have been satisfied.
That is why it is very important to have a copy of your credit file from Check My File as they provide data from three credit reference agencies – Equifax, Experian & Transunion – so it is a good place to start to get an overview of your credit history. It may be that once I have identified a lender, we get copies of your credit file directly from the agency the lender uses to make absolutely sure your credit history is OK for that particular lender.
Here is the link to Check My File for free for 30 days and then £14.99 a month – you can cancel online anytime – which checks all three.
Does the value of my CCJ matter for a mortgage?
If you have County Court Judgements for say £250 and no other adverse on your credit file, you could apply for a mortgage from a High Street lender with a good enough explanation. It would also help if it was cleared and better still, cleared after a month or two from when it was registered. Anymore than one County Court Judgment and you would be looking at specialist lenders.
Do I need to clear my CCJ before applying for a mortgage?
Clearing your CCJ may be beneficial to your application, but it is not a strict criteria for all adverse lenders. If you have money available to clear your CCJ before applying for a mortgage, it will certainly be worthwhile, as it shows the lender that you do not have another debt to clear, and have acted responsibly.
How long ago does the CCJ have to be to get a mortgage?
As with most things relating to adverse mortgages, the time when your CCJ was first registered will play a role in how likely you are to be accepted, and at what rate and level of deposit required. To give you an insight into lenders criteria, County Court Judgements can broadly be divided in three time zones – County Court Judgements registered within 1 year, between 1 – 2 years and greater than 2 years.
In 1 year
- 65% – 3+ County Court Judgements – I have a lender that will allow you to have more than 3 County Court Judgements registered within the last 12 months subject to underwriter approval and a very good reason but the rate and fees charged would be high.
- 70% – 1 x County Court Judgment that has been satisfied (paid off) within the last 12 months and with a monetary value greater than £5,000 or not satisfied and to a maximum monetary value of £5,000.
- 75% – no County Court Judgements within the last 6 months.
- 85% – 1 x County Court Judgment in the last 12 months with a maximum monetary value of £1,000.
In 2 years
- 85% – 1 x County Court Judgements to a maximum monetary value of £2,500 registered between 12 – 24 months.
Over 2 years
- 85% – All County Court Judgements can be ignored regardless of value, how many and do not have to be satisfied.
Getting a mortgage with a CCJ
If you’re looking for Help to Buy (H2B) Mortgage advice with CCJ’s, I can help. Find out more on Help to Buy Mortgages with CCJs.
For more information on how I can help you find a mortgage with CCJs, please call me on: 01494 526400 or complete my online enquiry form.