Remortgaging with a Charging Order

bectoria_2

I currently have a joint mortgage with my partner who has no debts. Unfortunately I do, they are now paid monthly on a debt management plan and are under control.
Our fixed term runs out on our current mortgage at the end of December (we are currently with the Coventry building society) so we are looking at remortgaging.
The main problem is as a result of the dmp I have a CCJ which resulted in a charging order before they would accept my monthly payments.
I have searched the internet but there seems to be conflicting reports about remortgaging with a charging order. Some say you cant remortgage without paying off the charging order first, others say as long as I am not releasing equity I can.
Ideally what we would like to do is remortgage just in my partners name as he has a good credit score and leave the charging order on the property. Can we do this?? By putting the mortgage just in his name am I in effect releasing equity (if that makes sense).
Any help greatly appreciated.

davek1

Afraid to say that having one of these myself the answer as i understand it is that if you remortage then you must pay the charging order off. In order to complete the re-mortgage a solicitor will have to contact all of the lenders that have an interest in the propert, listed on the deeds. he must ensure that all outstanding debts are paid off on completion of the mortgage. Any other arrangements must be agreed with individual lenders.

Who is it that the charging order is for?

Dave

doublestuffed

The issue here is priority, the coventry mortgage has first priority, the charging order hs second priority, a new mortgage to another lender will have 3rd priority and cascade into 2nd place if coventry is paid off, the problem is the new mortgage has to be a 1st legal charge, so the creditor that registered the charging order would need to conset to postponing their charge in favour of the new mortgage lender. why swop lenders, coventry is a good lender and would offer normal rates assuming your mortgage account conduct is satisfacory.

bectoria_2

Hi
Thanks for all your advice, can I just check I've got this right!!!
If we stay with Coventry they stay number 1 lender, we have not missed a payment on our mortgage so hopefully they would keep us.
We can change to another fixed rate with them everything stays the same and everyones happy?!??!