County Court Judgements (CCJ's)

Approximatly 2 million County Court Judgement (CCJ's) are registered every year. If this has happened to you, it is unlikely that you will be able to get a mortgage, remortgage or secured loan from most 'High Street' lenders. Most Mortgage, remortgage and homeloan providers are unlikely to lend to someone with a CCJ because it places a 'black mark' on your credit file, which they will access. They probably wont even be interested in the reason it was registered (even if you had a valid and genuine dispute!).

Arrears

Many people, often through no fault of their own, find themselves in arrears on their mortgage or rent payments. It can be for any one of a huge number of reasons; redundancy, loss of income, business failure, excessive credit.

This common occurrence normally means that you are unlikely to be able to get your mortgage / remortgage from a 'High Street' lender. Most mortgage lenders are unlikely to lend to someone who has had arrears previously, assuming the policy 'once a bad risk, always a bad risk', even though your circumstances may well have completely changed.

Payment Defaults

If you have loans or household bills, it may surprise you to note that one of these companies can register a default against you without your knowledge, although this will only be done if you have missed some payments. If this has happened to you, it is unlikely that you will be able to get a mortgage/remortgage from most 'High Street' lenders. Most Mortgage lenders are unlikely to lend to someone with a Default because it places a 'black mark' on your credit file, which they will access. They probably wont even be interested in the reason it was registered (even if you had a valid and genuine dispute!).

Discharged Bankrupt

Just because your finances have failed, it doesn't make you a failure. And you are not alone - we estimate that 72,000 bankruptcies are registered each year. In fact it is said that many extremely wealthy people have a number of failures before they eventually reach the promised land! Being made bankrupt can make it extremely difficult, and even once the bankruptcy is discharged (normally after 3 years) it can be extremely difficult to obtain any sort of credit. When it comes to a mortgage, remortgage this problem can be made even worse due to the amount of money involved, and traditional lenders attitudes to the problem. Quite simply they are unlikely to hear another word you say!