Satisfied CCJ and Defaults

Posted on 15 August 2016 by Peggy

I earn 23k annually, want to borrow 65k for mortgage and already have 10k deposit and could probably double this. I have 1 satisfied ccj and 2 satisfied defaults, all due to being stupid enough to financially support somebody. What's my chances of buying a wee place for myself?

Hi Peggy,

I think your chances of getting a mortgage whilst these items are showing on your credit file are very slim, even if you can double the size of your deposit. Your existing Bank or Building Society may consider an application if you have a long standing, well conducted account with them, otherwise you will need to wait until the economic climate changes or the poor credit falls of the back of your file. This happens 6 years after they were first registered.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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