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CCJ Mortgages from Mosaic Mortgages

CCJ mortgages lending criteria (updated 10/01/2012)

BAD CREDIT HISTORY?
Don’t worry Mosaic Mortgages can help with the following circumstances...
Problem Highlights of the lending criteria available

Missed / late payments on unsecured credit in last 12 months
(First time buyer)
  1. 20% deposit required but restrictions apply: Minimum age 25, minimum property value £75,000, minimum income £10,000 & affordability based lending.
  2. Better rates & more relaxed criteria with at least 25% deposit

Missed / late payments on unsecured credit
(Next time buyer)
  1. 15% deposit required but restrictions apply: Minimum age 25, minimum property value £75,000, minimum sole income £15,000 but affordability based lending. (Exclusive scheme)
  2. More relaxed criteria with at least 20% deposit - minimum age 21, minimum property value £75,000, minimum income £10,000 but affordability based lending
Default within last 2 years (First time buyer)

Expect extremely high rates but minimum deposit 25%, minimum property value £75,000, affordability based lending & employed applicants only:

  1. Ignore all defaults < £300
  2. 1 unsatisfied default allowed > £300 but < £3,000 with satisfactory explanation
  3. Up to 3 defaults registered > £300 but < £3,000 but must be fully satisfied with satisfactory explanation.
  4. 1 Default > £5,000 allowed if satisfied with satisfactory explanation
Default within last 2 years (homeowner) Minimum 15% deposit with 1 registered in last 24 months (0 in last 3 months), minimum age 25, minimum property value £75,000, minimum sole income £15,000 but affordability based lending

Defaults registered over 2 years ago
(first time buyer)
  1. 20% deposit required but restrictions apply: Minimum age 21, minimum property value £100,000, minimum income £25,000 & affordability based lending or
  2. 20% deposit but restrictions apply– Minimum age 25 (£10k minimum income and property value £75k)

Defaults registered over 2 years ago
(next time buyer)
  1. 15% deposit required but restrictions apply: Minimum age 25, minimum property value £75,000, minimum sole income £15,000 but affordability based lending. (Exclusive scheme)
  2. More relaxed criteria with at least 20% deposit - minimum age 21, minimum property value £75,000, minimum income £10,000 but affordability based lending
CCJ’s within last 2 years (First time buyer)

Expect extremely high rates but minimum deposit 25%, minimum property value £75,000, affordability based lending & employed applicants only:

  1. Ignore all CCJ’s < £300
  2. 1 unsatisfied CCJ allowed > £300 but < £3,000 with satisfactory explanation
  3. Up to 3 CCJ’s registered > £300 but < £3,000 but must be fully satisfied with satisfactory explanation.
  4. 1 CCJ > £5,000 allowed if satisfied with satisfactory explanation
CCJ’s within last 2 years (homeowner) Minimum 15% deposit with 1 CCJ allowed to max £750 (0 in last 3 months), minimum age 25, minimum property value £75,000, minimum sole income £15,000 but affordability based lending (exclusive scheme)

CCJ’s registered over 2 years ago
(first time buyer)
  1. 20% deposit required but restrictions apply: Minimum age 21, minimum property value £100,000, minimum income £25,000 & affordability based lending or
  2. 20% deposit required but restrictions apply: Minimum age 25, minimum property value £75,000, minimum income £10,000 & affordability based lending.

CCJ’s registered over 2 years ago
(next time buyer)
  1. 15% deposit required but restrictions apply: Minimum age 25, minimum property value £75,000, minimum sole income £15,000 but affordability based lending. (Exclusive scheme)
  2. More relaxed criteria with at least 20% deposit - minimum age 21, minimum property value £75,000, minimum income £10,000 but affordability based lending
Mortgage Arrears within the last 12 months
  1. Minimum 20% deposit, 1 missed payment in last 12 allowed (0 in last 3 months) minimum age 25, minimum property value £75,000, minimum income £15,000 but affordability based lending
  2. Minimum 40% deposit, 2 missed payments in last 12 allowed (0 in last 3 months), minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending
  3. Minimum 50% deposit, 3 missed payments in last 12 allowed, minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending.
Discharged bankrupt  / IVA
  1. A couple of high street lenders may consider subject to credit score but we would suggest a minimum deposit of at least 25% and active credit post bankruptcy discharge.
  2. Discharged / satisfied > 3 years minimum deposit 40%, minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending
  3. Discharged from day 1/ satisfactory IVA conduct minimum deposit 50%, minimum age 18, minimum loan size £25,000, no minimum income but affordability based lending

Call us now on
01423 877260


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Looking for more information on CCJ Mortgages? Call our specialist CCJ Mortgage advisors on 01423 877260 or complete our CCJ mortgage enquiry form, and we'll call you back!

The overall cost for comparison is 6.9% APR. The actual rate will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Our charges are usually £495.

Your home may be repossessed if you do not keep up repayments on your mortgage.