CCJ's and mortgage's

Jennifer34

Hello
My husband and I are saving for a house deposit as first time buyers.
He has 3 CCJ's unsatisfied on his file. They will have been on for 6 years in April and subsequently drop off his file.
Will they still show as a 'debt' as they're unsatisfied after the 6 years or will they completely disappear?
How long after they drop off will we be able to apply for a mortgage and will his credit score improve after?

Ideally we would avoid paying them as they're not small amounts and put the money towards a deposit. If it is still going to effect his credit file then we will be better off paying them?

Thanks

[Deleted User]

They'll no longer be visible on his files, but he'll still need to declare them if asked. They'll also still be enforceable.

His credit score may go up or down but that's not important, as it's not seen by lenders.

Thrugelmir

What's the probability of still being pursued for the money?

They will drop off the Register of Judgements after 6 years has passed.

ACG

With 3 CCJs over 5 years old, you can probably get a mortgage now.
With a 15% deposit, worst case scenario would be under 3.5% I would imagine, but there may be potential for better rates.

Get your credit reports over to a broker and see what they say.

Jennifer34

Thank you for your reply. Do you think this is possible even though the CCJ's are unsatisfied?

ACG

We do a lot of adverse and only a minority of people satisfy all of their defaults/CCJs.

redman1989

Hahah, I wish i knew this. I went back and satisfied 5 defaults a few months ago all aged 3.5years + could have saved myself some money but tbh feel better for doing it.

ACG

redman1989 wrote: »

Hahah, I wish i knew this. I went back and satisfied 5 defaults a few months ago all aged 3.5years + could have saved myself some money but tbh feel better for doing it.

You may find you have more options because of it.

You are probably going to get better lenders with 3 satisfied CCJs than 3 unsatisfied CCJs, but you need to weigh up the overall picture. If the CCJs are for £300 combined, it is a no brainer to satisfy them. If it is £30,000 then it is still cheaper despite the higher rates to put that money towards the deposit.

Morally, yes they should be paid but we are mortgage brokers, not priests.