Charging Order? The myth

fatbelly

https://forums.moneysavingexpert.com/discussion/comment/81951372#Comment_81951372

You say 'had' ccjs. What happened? Were they more than 6 years ago? Did you pay them off?

tksnota

Not paid waiting for them to drop off on my file

eggbox

tksnota

Once a creditor has a CCJ they can then apply for a Charging Order (usually up to six years after being granted the Judgement) to be attached against any asset you have for their debt.

So it will all depend on whether the creditor (A) finds out you have bought a house and (B) feels that they want to go to the trouble of applying for a Charging Order on the property. Either, may or may not happen as its purely down to those two factors?

But be aware that if you buy the house in your sole name, then any CO sought will be placed as an equitable charge on the deeds (rather like a mortgage) and will have to be paid off when you sell the house.

So you may want to think about that as the details explained on this thread are only possible if the property is jointly owned.

tksnota

if the property is paid in cash and jointly owned will equitable charge applies rather than restrictions?