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Charging orders on your mortgage
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Suzibingbangbong
Posts: 1 Newbie
Hi, my husband and I bought a house in 2004 for £278.k it's now worth £370k, we got in to debt, although now all paid off, but still have 30k on a charging order against my husband and the house. He earns about 100k per year, but due to charging order his credit is not good, we rent the house out and rent a house ourselves, the mortgage is with nram. Outstanding on mortgage is 200k. Should we sell and buy, will we get a mortgage, what happens with the charging order, so confused as what to do, financially in much better shape now but the past I fear is going to be a huge hinderance. Advice would be so gratefully received.
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confused say paid off, but £30k charging order has this been paid?Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Charging order should be removed if there's no debt outstanding.0
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If you are no longer in debt, what is this 30K charging order??"You were only supposed to blow the bl**dy doors off!!"0
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The condition of your credit files will be the primary concern here.
Obtain copies from both Experian and Equifax and engage an independent mortgage broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
A charging order for a sole debt on a joint property is, in fact, a restriction.
You should read about the difference, perhaps discussing it with a solicitor.
https://forums.moneysavingexpert.com/discussion/5128154I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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