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Remortgage with Charge on Property

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Hi Guys,


I had a disagreement with Severn Trent Water some years ago which ended with them getting a charging order on the property, I understand what this means basically that if I sell they will get their £2500.


I currently owe 25K on my existing mortgage and property now worth 225K and was thinking of re mortgaging the home for around 60K this would clear all my debts, C/Card and a car loan and of course the water bill mentioned. It would put me in a nice position having a good fully disposable income of around £1100 pm after all bills and about 20K back up for perhaps some special treats etc, as I am late 50's and wished to do and see some places while i'm still fit enough.



will a Bank or building society take me on with this charge on the proviso that the proposed re mortgage will clear this charge first, I have no judgements or defaults and a credit score of Excellent 963.


Any advice appreciated.

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maybe you could ask your present lender if they would give you an advance / increase your loan..


the charge from the water should remain in place and you would get the equity release you are looking for without having to pay fees and costs for another mortgage.

If I've given you advice, then it is just my thoughts / opinions - doesn't mean I am right!

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