The Mirror - Unpaid parking fines 'can mean losing home' as record numbers issued

Having unpaid parking fines can lead people to losing out on a home, experts have warned.

With record numbers of parking fines being issued, mortgage brokers have urged people to put principles to one side, pay their tickets and then dispute them through the proper channels. If an unpaid fine results in a County Court Judgment (CCJ), they say an otherwise straightforward high street mortgage application can turn into a costly "specialist lending nightmare".

Aaron Strutt, product director at London-based Trinity Financial, said his firm had seen a lot of parking fine-related issues over the years: "Many borrowers would rather not pay the bill because they think it is so unfair. The issue is that their credit can take a significant hit, and they end up paying more for years.

"Missed payments often transfer automatically to the credit reference agencies, and red marks are put on credit files pretty quickly. Having a CCJ is often pretty disastrous when it comes to qualifying for a cheap mortgage rate.

"It is often easier to pay the debt and then try to get it back through the normal complaints procedures if you have a mortgage or want to apply for a mortgage in the future. Finding out that you can't get a cheap fixed rate or a best buy tracker mortgage is often even more stressful than the initial fine."

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