Self-Employed Mortgage With CCJ
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Self-Employed Mortgage With CCJ
Chris Duncan explains how the mortgage process works for the self-employed with a County Court Judgment (CCJ).
Can I get a mortgage as someone who is self-employed with a CCJ?
Yes, but what’s important here is that there are two kinds of CCJ – CCJs against a company where somebody is self-employed, or CCJs attached to them as an individual.
In short, though, you can get a mortgage in both scenarios. Being self-employed doesn’t stop you getting a mortgage with a CCJ.
How do I find out if I have a CCJ as a self-employed worker?
If it’s on you personally, get a copy of your credit report or sit down with us – we can actually do it all on our system. We can pull your credit report through and see what’s there, when it was registered and the value.
If it’s on the business, it can be a bit more complex. But essentially you’d get a copy of your business credit report, come back to us and we’ll look through it with you.
What mortgage lenders accept CCJs if you are self-employed? Can lenders see a CCJ after six years?
There are plenty of lenders that accept CCJs, irrespective of whether you’re self-employed or employed. Even the high street accepts CCJs in some circumstances. What’s important is the date it was registered and the value.
After six years, any issues fall off your credit report, so lenders can no longer see them. However, there are occasions where lenders can still see information that indicates a CCJ, such as on a bank statement.
Perhaps you had a CCJ from eight years ago for £10,000, and you’re paying it back at £10 a month as a direct debit. Even though a mortgage underwriter can’t see the CCJ on your credit report, they may ask what the £10 a month is for. When you explain it’s a CCJ, it’s factored into your affordability assessment and will form part of their lending decision.
What documents will I need to provide if I have a CCJ and I’m self-employed?
You need the usual self-employed income proof: tax calculations, tax year overviews, bank statements and ID.
With regards to the CCJ, we don’t necessarily need any more documentation from you because we can pull that through electronically. It’s more about you having everything ready for us. On occasion, we may need business bank statements.
When we put your case to a lender, we’re trying to show them how great you and your business are. We need to make sure that the turnover in the business is still in line with your tax returns. If it’s not, there could be a good reason – perhaps it’s seasonal work. The documentation helps us tell that story.
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Whether it’s your first time, moving home, investing or just looking for a better rate we would love to hear from you.
Will I need a larger deposit if I’m self-employed with a CCJ?
Not because you’re self-employed, no, but potentially you might with the CCJ. Again, it depends on the value, when it was registered and what it was for. Some lenders will actually ignore CCJs below a certain value, or if it’s from a mobile phone contract or utilities provider.
A CCJ shouldn’t restrict you too much. But again, let’s look at that credit report and work out your options. If you’re going to need a 10% deposit to get a mortgage today, but all you’ve got is 5%, we can look at that.
It might be that we can’t get you a mortgage with 5% right now, but if you wait a couple of months, we can. Then at least you’ve got something to work towards.
Does the date of my CCJ matter for a mortgage if I’m self-employed?
Whether you’re self-employed or not, the date it was registered is really important.
Does the size of the CCJ affect my mortgage application as someone who is self-employed?
Ultimately, the date and value of a CCJ are the two things that play the biggest part.
Somebody that had a CCJ five years ago is more likely to be accepted with reasonable rates than somebody who had one six months ago. It doesn’t mean the second person can’t get a mortgage – they might just need a slightly bigger deposit, or the interest rate is a little higher.
How do I apply for a mortgage if I’m self-employed with a CCJ?
The benefit of using a broker like myself is that we understand the lenders who like this kind of application. It’s effectively their bread and butter. We’ve got good relationships with them, because that’s predominantly what we do.
If you decide to go it alone, bear in mind that most high street banks don’t like CCJs. If it’s relatively small, you might get it through. But every time you go and sit down with an adviser in a branch and they run it through their system, a hard search goes on your credit file.
You might eventually sit with somebody like myself, and when we submit your application to a lender, they will ask why you went to the other lenders first. What was the reason they declined it? So sometimes it’s better just to come and sit with a broker.
Can you remortgage if you are self-employed and have a CCJ?
I’ve actually done one recently where the client borrowed extra on their remortgage to pay a CCJ off. So yes, you can.
Can you get a Buy to Let mortgage if you are self-employed with a CCJ?
You can, and it’s actually quite common. Obviously, when tenants move out of properties and landlords are left managing the bills, they often pick up small CCJs – usually on utilities. You can absolutely get a Buy to Let mortgage with a CCJ.
How can a mortgage broker help? Is there anything else you’d like to add?
Just make the time to get your documentation together and pass it to your broker. Let us sit down with you and run through everything to work out a suitable solution.
We won’t just get you the mortgage you want now – we also take into consideration your future plans. The last thing you want to do is tie into a five-year fix with a subprime lender, for example, when you might move house in a couple of years. Just sit down with a professional that’s able to advise and help.
Key Takeaways:
- Getting a mortgage with a CCJ is possible, whether it’s an individual or company CCJ, and self-employment is not a barrier.
- The date and value of the CCJ are the most important factors. Although CCJs fall off credit reports after six years, repayments seen on bank statements can still affect the affordability assessment.
- You need standard self-employed income proof (tax calculations, tax year overviews, bank statements, and ID), but further CCJ documentation may not be needed as a broker can pull it electronically.
- A larger deposit may be required depending on the CCJ’s value, date, and purpose. Some small CCJs may be ignored.
- Using a broker is recommended to find CCJ-friendly lenders and avoid multiple ‘hard searches’ on your credit file.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST BUY TO LET MORTGAGES.
Why Oval Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors
Article created by Christian Duncan, Director – Mortgage and Protection Adviser
Last updated 2nd February 2025
As the cost of living in the UK continues to increase, it’s not uncommon for clients to seek new job opportunities while applying for a mortgage. In some cases, they may have a job offer but feel uncertain about how it could impact their application. This guide aims to address most of your questions. If you still need further clarification, please submit a contact request using the form above.
Can I get a mortgage if I have just started a new job?
Can I get a mortgage if I have a job offer letter?
Certainly! If you’ve recently interviewed for a new company and secured a position, you can explore mortgage options. Lenders typically request a copy of the job offer or proposed employment contract, along with additional details about your employment history and industry experience.
Can I get a mortgage if I have not yet started a new job?
Absolutely! You can secure a mortgage based on a pending new job that you haven’t yet started. You will need evidence of the proposed new job with either a job offer letter or signed contract of employment; This must be scheduled to start within the next 3 months.
When can I apply for a mortgage after starting a new job?
Immediately, you can actually apply for a mortgage even if you haven’t started the new job but you will be expected to supply some additional documentation to support your application. Your new job must be scheduled to start within the next 3 months but this kind of application is perfectly acceptable and very common.
What deposit is needed for a new job mortgage?
Like the majority of mortgages having only a 5% deposit is feasible. The bigger the deposit you have the more attractive you will be to a lender but 5% deposit mortgages for applicants who have started or are about to start a new job within the next 3 months are perfectly acceptable and something we have had plenty of success securing for our clients.
How much can I borrow with a new job mortgage?
How much you can borrow is subjective and will depend on your circumstances. There are lenders that will give up to 6x income for a first time buyer who’s looking to secure a mortgage whilst starting or about to start a new job.
How many months do I need to be in my job to get a mortgage?
Zero! It’s possible to secure a mortgage before you step foot through the front door of your new place of work. Lenders are likely to want to understand what experience you have within your industry and and brief explanation behind the change in job but we can prepare this on your behalf with your input to give you the strongest chance of being accepted for a mortgage.
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Whether it’s your first time, moving home, investing or just looking for a better rate we would love to hear from you.
Can I get a mortgage with a probation period?
Are interest rates higher for a new job mortgage?
Is it a good idea getting a mortgage when moving jobs?
If I move to a different part of the country can I still get a new job mortgage?
Yes, absolutely. Lenders are familiar with this kind of arrangement. It’s a little bit of a chicken and egg situation.
Mortgage lenders understand that moving home can often come hand in hand with applying for a new mortgage and pursuing your own goals, dreams and aspirations. As a mortgage broker it’s my job to ensure your case is packaged correctly and the relevant information submitted to the lender’s underwriter to ensure your intentions to relocate are crystal clear.
All lenders will look at how viable your new job is going to be. For example if you’re looking to buy a home in Manchester but your office is based in London. They will want to understand how feasible this is going to be and look at the costs in carrying out the commute.
Similarly if you’re living in Manchester working from home for a company based in London with little to no travelling this is feasible and deemed satisfactory. It’s important to note a lender might want written proof from your employer to evidence this. This would usually be clarified by requesting a letter headed document from your employer detailing your work arrangements.
Can a pay rise be used for a new mortgage?
How much does new job mortgage advice cost?
When applying for any mortgage it’s important you get the correct advice first time.
New job mortgages can be a little more complex and often require additional checks during underwriting. Here at Oval Finance we are familiar with the lenders who look at these kinds of applications favourably. Our costs for this type of mortgage application are typically £499 split into two parts; £99 at the Decision in principle stage, followed by £400 on submission of your full application.
Will I be approved for a new job mortgage?
New Job Mortgage FAQs
When applying for a new job mortgage you can be expected to supply the following documents
- 3 Months Bank Statements
- Most recent 3 Months Payslips (From current or previous employment)
- Photo ID such as Passport
- Address ID such as Driving Licence
- A signed job offer letter or contract that is dated within the next 3 months.
Being an agency worker, perhaps on a zero hour contract before applying for a mortgage with a new job offer is very popular. Often agency workers enjoy the flexibility of working on an agency before being offered a full time position within a firm. This is probably one of the most popular kinds of new job mortgage applications that we see.
Absolutely, although your employment circumstances aren’t straight forward this wont stop you applying for a mortgage with somebody else, Perhaps a friend, family member or partner: Although lenders won’t tell you this sometimes having multiple incomes coming into a household can fill an underwriter with confidence and help reach a positive outcome at the full mortgage application stage.
Having bad credit can often limit the amount of lenders available to an application but in most cases doesn’t stop somebody from securing a mortgage. Applying for a new job mortgage and having bad credit is very much possible but this will depend on the contents of your credit profile. If you complete the form above we can discuss the contents of your credit profile before you embark on your mortgage journey.
If you’ve applied for a mortgage and are awaiting a decision or have received your offer and your circumstances change, it’s important you keep your mortgage broker and or lender in the loop. Depending on the lender it might not impact your mortgage offer but being transparent with mortgage lenders is paramount.
Knowing which lenders are comfortable with this scenario is only half of the battle. Understanding how the rest of your circumstances fit with each lender is the other half. I would always advise using the services of a mortgage broker for this kind of application. Moving home and starting a new job are two of the most stressful but exciting things you are likely to take part in. Allow us to take the stress away from your journey and improve your chances of success.
No, having small gaps in your employment wont stop you getting a mortgage but you can expect a mortgage lender to ask questions about why you had a gap. Maintaining continuous employment will get your brownie points with a lender but don’t worry if you haven’t. Discuss this with your broker.
Why Oval Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors