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Can I Get A Remortgage When I Have A CCJ?
Every Case Is Different
Many lenders will look at your credit report as a whole, not just focus on the CCJ. If the CCJ was for a small amount, then this will make a big difference to their decision. The rest of your payment history will also have a huge impact on the decision. For example, if your credit is otherwise very strong but you have a CCJ for £100 from four years ago, this will be different to someone with regular late payments and a recent CCJ for £5,000. Speak to a specialist mortgage broker who will be able to advise you on the best way forward for your individual circumstances.
Improve your credit
In general, time heals most things on a credit report. Even if you have a CCJ on your record, make sure you focus on improving your credit. Ensure payments are made on time and try to avoid going over 50% of your credit limit. This will give lenders some confidence that you are not a high-risk lender. If you would prefer to wait, you can leave your remortgage application until after the CCJ has been completed. All CCJs will stay on your file for 6 years. After this time, you can focus on rebuilding your credit score and then put the CCJ behind you. Once a CCJ is completed, make sure that it is promptly removed from your credit report. After this, you can apply for credit with confidence knowing that there will be no trace of the CCJ.
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