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Judgement Mortgages

This is a long-term way of securing payment if other options have failed. If the debtor owns a house, even jointly with a spouse or someone else, the judgement can be registered as a Mortgage against the house. We do not need consent to do this and it does not matter if the house is a family home or not.

A Judgement Mortgage is valid for twelve years from the date of judgement and if in that time the debtor sells his property or re-finances his Mortgage he will have to pay it off with statutory interest and costs. It is surprising the number of houses that do change hands within twelve years, particularly where the debtor has other financial problems. A creditor who has registered a Judgement Mortgage has the option of applying for an Order for Sale of the property.

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