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Defaults or CCJ's

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With Defaults or CCJ’s

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Getting on the property ladder can be daunting, particularly if you have defaults or County Court Judgements (CCJs) on your credit file. At Lightbulb Lending, we know that life can present challenges, but we believe that your past financial issues shouldn’t impact your homeownership goals. We are experts in finding mortgages for clients with impaired credit and are here to help you secure a mortgage, no matter your financial history.  Contact us today for your FREE consultation.

Mortgages with Defaults or CCJs Are Still Possible

Applying for a mortgage with defaults or CCJs on your credit file may be challenging, but it’s still possible. We work alongside specialist lenders who know that life events can affect your credit score, and we’re here to make sure that these setbacks don’t prevent you from achieving your goals.

Lightbulb Lending | Mortgage Services | Insurance Services
Lightbulb Lending | Mortgage Services | Insurance Services

What is a Default?

If you fail to meet the repayment terms of a credit agreement, you will incur a default. While a default may limit your options with high-street lenders, this doesn’t mean that you can’t secure or apply for a mortgage. Here are some key points to understand about a default on your credit file:

  • A default will remain on your credit file for 6 years, whether they are paid or unpaid.
  • You can still be issued with a CCJ within these 6 years which will remain for a further 6 years.
  • The impact of a default on your mortgage application depends on various factors, including:
    • The type of default (e.g. mortgage, unsecured loan, credit card)
    • The amount owed
    • How recent the default is

What is a CCJ?

If you fail to repay a debt, you will be issued a County Court Judgement (CCJ). A CCJ on your credit file can complicate your mortgage application process, but it doesn’t make securing a mortgage impossible. Here are some key points to understand about a CCJ on your credit file:

  • A CCJ will remain on your credit file for 6 years unless the debt is repaid within 30 days.
  • Some lenders may require a larger deposit if the CCJ is recent or remains unpaid.
  • Some lenders may not require settlement at all.
  • The impact of a CCJ on your mortgage application depends on various factors, including:
    • The age of the CCJ
    • The amount owed
    • The reason the CCJ was issued

Here at Lightbulb Lending, we understand the criteria that lenders use when assessing applications with defaults and CCJs. This means we are ideally positioned to help find the right lender for your circumstances, improving your chances of securing a mortgage – contact us today!

Lightbulb Lending | Mortgage Services | Insurance Services
Lightbulb Lending | Mortgage Services | Insurance Services

How can Lightbulb Lending help?

At Lightbulb Lending, we want to make your homeownership dreams possible, even if you have a default or CCJ on your credit file. We work with a wide range of lenders, including those who do not rely on credit scoring and are more flexible in their lending criteria. Armed with years of experience, our services are backed by fast turnaround times, 5★ customer service and FREE no-obligation consultations and quotes. Contact us today to start your journey to homeownership.

Mortgage Experts

We have years of expertise in mortgage solutions for clients with impaired credit, including those with defaults and CCJs.

FREE Consultations

We never want to add to your money worries, so we offer FREE consultations and obligation-free quotes.

Personalised Service

We work to understand your circumstances, ensuring we match you with the right lender.

FAQs

Can I get a mortgage with a default on my credit file?

Yes, it is possible to get a mortgage with a default. You can rely on Lightbulb Lending to identify the lenders most likely to approve your mortgage application, despite these challenges.

Will a CCJ prevent me from getting a mortgage?

No, having a CCJ does not automatically prevent you from getting a mortgage. We can help find a lender who is willing to work with you based on your unique circumstances.

How long do defaults and CCJs stay on my credit file?

Defaults and CCJs remain on your credit file for six years, although a CCJ can be removed if paid within 30 days of the judgement.

Do I need a larger deposit if I have defaults or a CCJ?

Not necessarily, deposit amounts will depend on the severity and age of the default or CCJ. Some lenders may require a larger deposit, but we can help find the best option for you.

Can I get a mortgage if I have multiple defaults or CCJs?

Yes, we have experience in securing mortgages for clients with multiple defaults or CCJs. The key is finding the right lender, so please don’t hesitate to contact us today.

Will my interest rate be higher if I have a default or CCJ?

Interest rates may be higher if you have a default or CCJ, but we focus on finding you the most competitive rates available based on your circumstances.

How soon after a CCJ can I apply for a mortgage?

You can apply for a mortgage at any time, but the older the CCJ, the better your chances. Some lenders may require it to be settled first.

What should I do if my mortgage application is rejected?

The most important thing is not to be discouraged. We will work with you to explore other lenders who may be more suited to your financial situation.

Take the First Step To Your Dream Home Today

We believe that everyone deserves a chance to own their dream home. So if you’re worried about securing a mortgage due to defaults or CCJs, please don’t hesitate to contact Lightbulb Lending today.

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Get In Touch

Finding the right mortgage is key to managing your finances and achieving your homeownership goals, whether you’re a first-time buyer or remortgaging.

Lightbulb Lending | Mortgage Services | Insurance Services

Phone :

01245 379977

Lightbulb Lending | Mortgage Services | Insurance Services

Email :

info@lightbulblending.co.uk

Lightbulb Lending | Mortgage Services | Insurance Services

Address :

North Fambridge, Essex, CM3 6FS

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    Lightbulb Lending is a trading style of Simply Lending Solutions Limited Registered in England & Wales. Company No 09676170.

    Simply Lending Solutions Limited, registered address: Barn 12, Runwell Hall Farm Hoe Lane Rettendon Common Chelmsford Essex CM3 8DQ. Authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register No 745164 at https://register.fca.org.uk/. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

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