Can you find out who the lender is on a particular property?

Lady-g-

Hi everyone

I put a verbal offer on a house (for the asking price) which was accepted, we then submitted a formal offer. A few days later we were shocked to find out that infact the property might be getting repossessed as the current owners have not been keeping up with the payments. Since then (3 weeks ago) ive heard nothing. The estate agents that was marketing the property have said that they have made numerous calls to the owners but they don’t return calls.


Since I found this out ive been scouring the internet just incase it goes up for sale or auction by the lender but haven’t seen anything so far.

Im worried that we wont get the property now (and I really love it aswell!) so my question is, is there anyway to see who the lender is on the house, this way I might be able to narrow down the estate agents or auctions in the area that they are most likely to use?

Any advice is appreciated.

Thanks

Pee

This will be public info on the Land Registry title. Your solicitor could get hold of a copy for £8. Presumably you could get a copy contacting the land Registry direct?

1stTimer

funnily enough i was in the exact same position as this last year, unfortunatley for me the house did get repossessed before we completed.

If i remember rightly it was on the land registry, but i was told i wasn't allowed to contact them directly, anyway after months of waiting, they took it and put it back up for sale for the original asking price and wouldn't take any offer i threw at them even though i had already had all the searches done etc.

Happy to say its still up for sale today though and in the meantime i've managed to start saving for a deposit rather than going in at the original 100% :rotfl:

good luck with it and i do hope you complete and it goes alot smoother for you

Lady-g-

Hi pee

Thanks, ive now asked my solicitor to order this information so hopefully ill be armed with a little more info!

1stTimer, thats a shame you never got that house. i have my heart set on this house so im praying that we still get it! im more than a little annoyed that the sellers knew that was going to happen buy happily let me pay for a valuation on the house!
im hoping that because it was on the market since last year (at a higher price and never sold) and we offered the sellers asking price when the lowered it, that the bank will either reposses and let us buy it from them or not reposses and we buy off the sellers as normal.

im just not sure whats happening!

thanks for the infor though.

mlz1413

I believe the quickest why to buy a property about to be repossed is from the current owner. Is the property nearby can you go to the house and see if anyone is living there? If they are put a note through the door saying the EA can't get in contact with them could they contact EA.

Lady-g-

Hi Mlz1413

The sellers have moved out of the house, think they did so a while back as it was empty when we went to view it with them. they had it on the market a while and dropped the price quite a bit. We just thought they had moved on and wanted rid, we really never thought that i was possibly getting repossessed!

i had thought about popping a note through the door in the off chance that they are still going to pick up mail etc but i wasnt sure if that was the correct thing to do in this situation? I dont want to hound them as i know this must be a difficult situation for them aswell but i really want to know whats happening either way!

i really hope i can buy it off the sellers rather than the lender after the horror stories ive read on here about gazumping on repossessed property etc! dont think my stress levels could get any higher right now!

thanks for your input.

mlz1413

If they didn't live there when you viewed ask the EA if they have a different contact address and if they have posted any letters re your offer to them.

Most people will re-direct mail if they have moved so its worth a try.

I don't think putting a note through asking vendor to contact EA is wrong, but a note asking to vendor to contact you direct probably would give cause for concern.

Ensure the EA have done what they can, but if the vendors are in negative equity they would have to prove to mortgage co that they can pay difference on completion or they won't be allowed to sell any way.

Good Luck

Pee

The sellers and the lender would have to agree to a sale at less than the repayment figure for the mortgage. The lender may be willing to lose out a little bit rather than lose the sale.

G_M

Go to LandRegistry 'find a property' and for £3 download the title documents which will show who has a 'Charge' on the property. That is the Lender/Bank.

Call them and ask for the Repossessions dept.

However probobly they will go through a standard, slow process of getting a court to give them possession, then getting a Valuation, then either sending it to auction or to an estate agent. It will re-appear in 3-6 months.