Mortgage with Default

A default will stay on your credit file for six years from the date of default, regardless of whether you pay off the debt. But the good news is that once your default is removed, the lender won't be able to re-register it, even if you still owe them money.

Most Prime lenders will not lend in these circumstances if these are within the last three years; however, specialist lenders will treat this different.

On a re-mortgage it may make sense to leave your current mortgage in place dependant on the rate or early redemption penalties and take out a second charge mortgage whilst a better product may be more ascertainable, as a transparent broker we will always give both options of a full re-mortgage against retaining your current rate and raising funds via second charge.

Mortgage with CCJ

County court Judgements will stay on your credit profile for six years even if this is paid off within this time.

Most Prime lenders will not lend in these circumstances if these are within the last three years; however, specialist lenders will treat this different.

On a re-mortgage it may make sense to leave your current mortgage in place dependant on the rate or early redemption penalties and take out a second charge mortgage whilst a better product may be more ascertainable, as a transparent broker we will always give both options of a full re-mortgage against retaining your current rate and raising funds via second charge.

The second charge mortgage needs to be highlighted and take them to a section about second charge mortgages

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