General Information Regarding Mortgage Problems In The United Kingdom

Mortgages are a common real estate means for individuals to finance the purchase of their home. Mortgages can be issued to those who buy new homes or for those individuals who already own homes yet wish to obtain a different mortgage known as a remortgage. Although many individuals are able to obtain mortgages without issue, there are quite a few who have trouble obtaining mortgages and remortgages and examples of these financing problems will be discussed in the paragraphs that follow.

County Court Judgment

One type of mortgage problem that individuals in the UK may experience relates to those individuals with a county court judgment, or CCJ. A county court judgment is a judgment issued by the jurisdictional court for a variety of reasons. When individuals have a county court judgment issued against their person, they may find that obtaining either a mortgage or a remortgage thereafter may pose a problem for them. It is important to keep in mind that CCJ remortgages are possible and one should not be discouraged if they have a county court judgment against them.

Self Certification Issues

Self certification issues are ones that plague individuals who have a hard time showing where their income comes from. This may hinder some individuals when they go to obtain a mortgage or remortgage as many lenders wish to see verification of employment and amount of income derived from that employment on an annual basis. Mortgage lenders and remortgage companies these days may have ways of addressing self certification issues so that the individual can still obtain a mortgage or remortgage. For help finding the best self cert remortgage an individual may inquire with the lender to see if they can provide a remortgage to this individual.

Poor Credit

Another issue one may encounter when trying to obtain a mortgage or remortgage relates to poor credit. Some lenders may frown upon poor credit yet there are some who specialize in providing bad credit mortgages or bad credit remortgages in UK areas. A mortgage lender or remortgage loan lender may find ways in which individuals can still obtain financing options of these types regardless of their poor credit history.

Defaults

Another type of mortgage problem deals with defaults. Defaults relate to failing to meet one