Judgement Mortgage and Selling

M

Muns11

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I have a judgement order against me since April 2017 by a Property Management Co but I'm making regular payments weekly to clear the debt. I recently got my ICB credit report and there's no mention of it on the report. My question is can I sell the property with a judgement mortgage on it and more importantly will I struggle to get another mortgage because of it?
Any advice welcome.
 
If it is an apartment you probably won't be able to close the sale if there are service charges owed.
 
You cannot realistically sell a property with a judgement mortgage on it. Clear title cannot be transferred to the buyer until the judgement mortgage is removed.

If there is no reference to the matter on the ICB or the Central credit register, it may be that it will not affect any new mortgage application. However if you are asked for details of any credit issues what will you say.
 
Thanks for your replies. The outstanding service charges are being paid weekly but won't be completely cleared by the time I hope to sell. I guess I'm wondering if outstanding judgement amount could be cleared from the sale of the property? It's not a huge amount to begin with. It just galls me to be paying it as the mgt co are useless and have not fulfilled their services for the past 12 years I've been living there but that's a separate issue.! I just want rid at this stage as the whole situation is playing havoc with my mental and physical health. Admittedly I didn't handle things very well through fear and ignorance but I was a very naive young buyer 12 years ago with a (as I now know) very dodgy solicitor, who has since "vanished". It's just a never-ending nightmare!
 
A judgement mortgage is generally similar to any other mortgage - your solicitor will need a settlement figure, and will provide an undertaking to clear it from the sales proceeds. But it can delay things a lot. It would probably be best to clear the judgement amount if you can, and get it removed beforehand.

But as @jdwex noted there are other steps to go through when selling a property that has a management co.

Best to talk to a solicitor if you are thinking of selling.
 
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