We often get enquiries from people looking at getting a Mortgage with CCJs (County Court Judgements). CCJs come in all sorts of variations, from small £150 CCJs from Mobile phone companies or utility providers, up to thousands of pounds from ex landlords for example.
What is a CCJ?
A CCJ stands for County Court Judgement. These are debts which have gone through the courts for non payment. CCJs can be initiated by companies or individuals and are normally for balances of up to £5,000 (through the small claims court).
How can we help?
In January to March 2017 there were nearly 300,000 CCJs issued, if you multiply that for the year, there were probably over 1,000,000 CCJs issued in England & Wales throughout 2017. In 2016 some 912,389 borrowers obtained a CCJ which again was up on the 2015 figure of 734,205 CCJ’s given yet despite this increase the average value of a CCJ fell in 2016, to £1,711. This was 16% down on the year before and looking back just 9 years to 2008 the average CCJ stood at £3,624 – more than double last year’s figure.
This increase in CCJ’s being issued and for smaller and smaller amounts shows that local councils chasing council tax arrears and firms such as utility providers and mobile-phone companies are now taking more serious recovery action against people much more quickly and for the mortgage market this will increase lending demand for those with adverse credit histories from these borrowers in the very near future.
It is not hard to see then that we get a significant number of enquiries from people looking for a Mortgage who have a CCJ. Because we tend to specialise in the adverse/sub prime/bad credit market we come across more than our fair share of CCJs. That is not a bad thing, as we see Mortgage applicants with CCJs on a daily basis we tend to have a good idea of which Mortgage lenders are open to accepting CCJS and who is most likely to accept your application.
Give us a call, our number is 0161 327 2799 or you can fill out our contact form. We would be happy to have a chat with you and discuss your circumstances.