Charging Order? The myth

wembley14

hello ANDY262
I would just like to echo what eggbox says. Also to keep on going until finding the right solicitor. I am pretty sure you can use any company in England to do your property sale as all work is done by mail or phone anyway.
Hopefully once mine is through I will ask my solicitor if he is willing to be recommended to others elsewhere in country. Especially with the restriction order problems. You will be able to PM me for details once mine is completed.

eggbox

Thanks Wembley14 your feedback is invaluable and it's a pity others who have sold haven't done the same!


Can I ask how your solicitor reacted to the information you gave him and also when you agreed to have the funds withheld until the new owner was registered?

wembley14

Thanks for post Eggbox.
my solicitor was ok when given information and it was actually his idea to suggest to buyers solicitor about withholding debt amount as guarantee. I agreed with his suggestion as I had already read BRIGHTONIAN doing this. This was because buyers lot wanted removal of restriction but my solicitor managed to explain that no charge would be left on title. Luckily he was more clued up on the conveyancing laws. We are just waiting now for confirmation of notification.
Fingers crossed.

eggbox

Hi Wembley

regarding your question in post #1361, for what is your buyers solicitor requesting a "certificate" for?

A standard Form K Restriction states that a certificate (see LRR's explanation a few posts back what this is) is needed from the BUYERS solicitor that notification has been given to the creditor. But some Restrictions are worded that the Creditor must provide a certificate they have been notified.

Do you know what you Restriction states?

andy262_2

Thanks for the replies!

Both solicitors made it apparent they don't know and refuse to want to know about overreaching second charges other than the fact that the creditor has to be contacted for a settlement figure. The buyers solicitor refused to proceed without written confirmation that the title will be clear on completion, my solicitor refused and it became a stalemate. I even asked of both solicitors to contact land registry, why would Land Registry of told me which practice guide to read for the answers along with the information on this forum, both solicitors declined to even look at the practice guide. I went to another solicitor, these are conveyancing solicitors by the way, I asked what he knew about restrictions and second charges hoping I would get an answer which seemed pointless as I was told a charge is a charge restrictions are a separate matter, I said the restriction is with the charge, if the terms are complied with it can be overreached where does it say anything about payment of money, I was bluntly told only a lender can overreach how else can they take possession with subsequent charges, I need a redemption figure and it must be settled to remove the restriction and charge?. Just got me confused and stuck for words. I've spent hours reading and talking to people although I did speak to a consultant solicitor who totally understood which is along with this forum the only thing that's stopped me from doubting whether it can be done. I'm just trying to keep sane, I keep thinking about star wars. This thread and land registry are like yoda, I got some clues and answers from them, I'm now trying to use this experience in my quest but there is a force I am struggling to overcome. I refuse to go to the dark side!! lol told you I was struggling mentally!

eggbox

Andy,


You make a very important contribution above as it perfectly demonstrates why so many posters are struggling with solicitors/conveyancers through their intransigent behaviour. That these so called "professionals" don't understand their trade is bad enough; that they aren't prepared to find out the law on these matters to better represent their "paying" clients is, quite frankley, reprehensible.


Hopefully, however, Weebly has shown there is ground to be made when Solicitors are prepared to help by looking at the facts. Unfortunately, it does mean a little leg work to find those willing to help.

eggbox

Just to add; according to the Solicitors Regulations Authority there are 10 Principles Solicitors should adhere to as part of their Code of Conduct. Number 4 and number 10 on that list are below,


4. act in the best interests of each client


10. protect client money and assets.

andy262_2

Thanks for the morale boost eggbox!!

I have quoted from the SRA handbook before and I was told it was how I have interpreted it. I wanting them to act in my best interest is not the same as a solicitor wanting to act in my best interest. I have been told they have a fear of banks striking them off approved lists or making it difficult in any future business carried out by them if they do not work in the interest of the lender. I'm sure this is just pure speculation! lol

eggbox

andy262 wrote: »

. I have been told they have a fear of banks striking them off approved lists or making it difficult in any future business carried out by them if they do not work in the interest of the lender. I'm sure this is just pure speculation! lol

There must be an element of truth in this as, to me, it's incomprehensible that a Solicitor being paid by a client should want to satisfy the financial interests of a third party, at the expense of that client, when it has no legal obligation to do so?


As Restriction wordings make absolutely no reference to any payment being made (only that the creditor has to be notified or confirm it has been notified) there is no "rule breaking" occuring by not paying the creditor from the proceeds of the sale.


So their actions have to be influenced by "something" they are concerned about as they are 100% not acting in their best interests by paying off creditors there is no duty or obligation to do so.

terryw

It surprises me that no firm of solicitors/conveyancers have entered this niche market! Many potential clients with a restriction would pay top-dollar conveyancing fees to use such a firm who understood the LR restriction rules.