What To Do When CCJs Remortgage Is Refused

The Situation

Once served with a CCJ, many lenders will refuse to help you get a remortgage. These people or companies have reasons like credit problems, mortgage arrears, no proof of income, CCJs or even self-employment as reasons for refusing CCJ remortgages. But there are a few companies who provide CCJ remortgage when all others refuse. However there are a number of extra costs to be incurred to procure a loan amount once a CCJ remortgage is refused. These costs include:

• Broker's fee
• Survey/valuation fee
• Legal fees for conveyancing
• Discharge fee
• Mortgage repayments/interest rates
• Life insurance premiums

Not all these fees apply to all CCJ remortgage refused cases, but even the minimum could add up to a large amount.

How To Organise A CCJ Remortgage After a Refusal

Seeing a CCJs remortgage refused stamp can be disheartening. However, there are products and companies willing to help borrowers shoulder the economic burden. Loans sanctioned after CCJs remortgage refused fall under categories like "Discount", "Stepped Discount" and 'Fixed'. It helps to understand the terms and conditions of each before deciding what suits best considering the CCJs remortgage refused situation. To avail of a loan after CCJs remortgage refused one has to fulfil the following criteria

• Get a mortgage illustration (KFI)
• Remortgage Application
• Property Valuation
• Remortgage Offer
• Legal work, also known as 'conveyancing'
• Completion

CCJs Remortgage Refused Specialists

The markets today have a variety of specialists who work exclusively with CCJs remortgage refused cases. So in case you have been served with a notice stating CCJs remortgage refused, do not despair. Companies working exclusively in this segment offer hints and solutions for many CCJs remortgage refused saes. Such firms are willing to research the mortgage market for the best deals available for their client, work out the best financial solutions, support people with poor credit history etc.

Considering it is difficult to procure loans after getting a CCJs remortgage refusal, advice and guidance by specialist companies helps alleviate the situation to a large extent. But these services come for a fee. In addition, any loans incurred post a CCJs remortgage refusal draw a higher rate of interest than normal loans.

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