If you’ve had a County Court Judgement (CCJ) registered against you within the last 6 years, you may find it more difficult, or more expensive to find a loan. We specialise in helping people with CCJs by finding CCJ loans, even if you’ve been rejected by other lenders.
- Personal or homeowner loans available
- Loans for almost any purpose, including CCJ loans
49.9% APR Representative (variable) Secured loans: 9.1% APRC Representative. You must be a homeowner to apply.
Coronavirus (COVID-19) update
Due to the recent coronavirus (COVID-19) outbreak, some lenders have temporarily paused offering loans through Ocean Finance to the market. We’ll be able to match you to loans still available, but there may be fewer options than normal.
How to get a loan with a CCJ
The application process works much the same as with any other type of loan. Start off by doing your research and finding lenders who’re more likely to accept you.
Then, you’ll be asked a few standard questions like:
- How much do you want to borrow?
- How long do you want to borrow it over?
- What are you planning on using the money for?
- What’s your name?
- What’s your address?
- What’s your employment status?
- What’s your residential status?
And so on.
With that info in tow, with us, you’ll be able to find out if you’re accepted or rejected on the spot, and without impacting your credit score.
From there, it’s a case of choosing a deal that’s right for you and completing the rest of the application form - the exact steps for this will vary depending on whether it’s a secured or unsecured CCJ loan.
No matter which type of loan you choose, the lender will complete a full credit check after you apply. Depending on if you have bad credit, a CCJ or any other serious money problems, you will be offered a higher interest rate than with traditional loans. The creditor may also look at your outgoings to see how much they think you will be able to confidently repay each month. The lender does not want to give you a loan that isn't comfortably repayable as they don't want you to get into more debt.
How much can I borrow?
It depends on which type of CCJ loan you apply for. Here at Ocean, you can borrow between £1,000 and £25,000 with a personal CCJ loan and £10,000 and £100,000 with a secured CCJ loan.
One thing to bear in mind when applying for a CCJ loan is that the interest rate you’re offered is likely to be higher - whichever type you go for, and that’s because the best interest rates are saved for people with the best credit histories.
Why? Steep interest rates reflect the level of risk lenders are taking by accepting someone with a bad credit history and the worse the record, generally speaking, the higher the interest.
Personal loans: 49.9% APR Representative (variable). Ocean Finance is a trading style of Intelligent Lending limited. We are a credit broker working with a panel of lenders to find you a personal loan.
Homeowner loans are secured against your property. We are a broker and we arrange secured loans from a panel of lenders. We receive commission upon completion. A broker fee of 12% of the net loan amount, set at a minimum of £995 and capped at a maximum of £3995 is payable upon completion and can be added to your loan.