CCJ Remortgage
Remortgaging your home could save you on monthly bills, free up equity and lower your long-term interest payments. If you have incurred a County Court Judgement (CCJ), it may limit you in the products available to remortgage.
There are however many Sub Prime products available from High Street lenders and specialist adverse lenders and the products available will depend on the amount of the CCJ, whether it has been satisfied and how long ago your CCJ was registered.
A CCJ will dissappear from your credit file after 6 years and if you settled the amount outstanding in full within 30 days of the CCJ being registered it will also be removed from your credit file. There are of course instances where you have received a CCJ that should not have been registered to you. In these circumstances you will need to approach the court and put forward your case for the removal of the CCJ. If successful you will be issued with a letter from the courts showing this and you must then contact the Credit Reference Agencies (Experian & Equifax) to have the CCJ removed from your report.
If you can pay the outstanding amount of the CCJ after the first 30 days (including any court costs) you will want to get the CCJ removed. Once the payment is received, the payee should arrange for a letter of satisfaction to be sent out to you. They will also arrange for a copy to be sent to the Court, who will arrange for the information held about your CCJ, to be altered to show that the debt has been paid off, or satisfied. It will however still show on your credit file for 6 years but will at least show the debt as being satisfield.
Finding a Good Remortgage
Our specialist mortgage brokers from Grovelawn would source from the whole of the market to find you the most appropriate adverse remortgage and will not charge any broker fees for this. Please complete our online mortgage enquiry form or call us on 0845 458 2633.