Self-cert mortgages with CCJs: flexibility a big bonus
Anyone looking at different self-cert mortgages with CCJs on their credit records could be tempted by the advantages of a flexible mortgage product.
Flexible mortgages could have been invented for people with self-cert mortgages. With CCJs on their credit history or without, people who need a self-cert mortgage by definition are likely to have some months where their income is up, and some where there seems to be little or no cash coming in.
Flexible mortgages for self-cert mortgage holders with CCJs
A flexible mortgage allows for higher payments during the fat months while making lower payments in the leaner months – ideal for freelancers, short-term contractors, company directors or the self-employed; people who have no fixed regular income that they can demonstrate to a mortgage lender.
It can be the cash flow problems that come with being one of the above types of worker that can lead to CCJs and other payment defaults. Anyone, given a certain set of circumstances, can end up with CCJs on their record. And with one in seven people in the British workforce estimated to be self-employed, there are a lot of people wanting self-cert mortgages with CCJs on their credit score.
Future CCJ problems reduced with self-cert mortgage payments
Flexible mortgage products help iron out the ups and downs of cashflow, and make it less likely that someone with a self-cert mortgage with CCJs in the past is likely to get them in the future.
Perhaps the best thing with flexible mortgages is that the more high payments you can make early on in the product’s lifespan the less money you will have to pay overall – leading to the mortgage being paid off more quickly in many cases. And all the time you are keeping up the payments on a self-cert mortgage with CCJs on your credit score, that credit score is improving all the time.
Find the right self-cert mortgage with CCJs with Prosper Home Loans
Prosper Home Loans have the experience and expertise to obtain the best mortgage to suit your individual financial situation. Whether you are planning your first purchase, moving home, thinking about remortgage or debt consolidation, buying a second home, or perhaps considering a commercial venture, let Prosper help. Prosper has extensive experience in working with specialist self cert mortgage lenders, so if you’re looking for self cert mortgages or bad credit mortgages, email your query to: enquiry@prosperhomeloans.co.uk or telephone: 01424 712333 and find out how Prosper can help you.