Charging Order? The myth

Land_Registry

Impossible for me to really offer too much comment as we don't regulate such professionals and to be fair we don't always get it right either.

Other areas are also subject to a large amount of disinformation or misunderstanding and we deal with applications on a daily basis which are faulty or incomplete in some way. Again we are not entirely blameless but I would suggest the simple fact remains that the law remains complex on all things relevant to land/property and has done so for many years - as I am sure you will appreciate simplifying the law is a tricky, onerous and time-consuming process and does of course have to go before parliament to become law. Constraints abound re such matters as a result.

Simplifying the process of registration is only part of the journey here and I make no bones about continuing to bang the drum re the fact that the law around debt and COs is especially complex and not our area of 'expertise'

DAKOTA45 - your circumstances remain, in my view quite rare, with regards the application for a modified restriction and whilst it is of no solace rarity can often mean a lack of awareness and understanding in some quarters.

Enterprise_1701C

LRR and eggbox

The application for a remortgage was some years ago, can't quite recall how long ago.

After the remortgage was declined we asked, both of us separately, how much was left and got two very different answers. Unfortunately this was done over the phone and we do not have notes. Interest is not being applied.

We have been all through the loft where we thought the papers were, but there is no sign of them. I am going to assume the bank will claim no knowledge of payments.

Fortunately we have no intention of moving for quite some years and may well use that in negotiations. I am due to inherit a sum of money sometime soon and this will be on my list of priorities.

eggbox

If you have a CO there will be a Court record of how much the order was made for so you need to apply for a copy of that to ensure you know the correct figure in any future negotiations.

And can I ask how you know interest isn't being applied?

pwest_2

hi did you fnd a solicitor that understood or new of this as i am unable to find one?

eggbox

pwest wrote: »

hi did you fnd a solicitor that understood or new of this as i am unable to find one?

We do have somebody offering their services so PM me an email address with details of your situation if you are interested

Enterprise_1701C

eggbox wrote: »

If you have a CO there will be a Court record of how much the order was made for so you need to apply for a copy of that to ensure you know the correct figure in any future negotiations.

And can I ask how you know interest isn't being applied?

We have a copy of the court order. We were never informed that they had the charging order, another thing that is annoying.

Can't see anything about interest being applicable on the documents we have. I sincerely hope it is not being applied, fairly sure it is not.

It is very annoying because we KNOW we have paid at least a considerable amount of it, fairly sure it is paid off. Convenient how banks lose the information about payments but retain the other info. Have put in an information request with them but not hopeful as it is so long ago. Rather hoping they come back and say they have no information on it.

eggbox

What does the Court order you have actually state as it should show how much the debt is for and if interest is being applied?

But you might be lucky with the SAR as they should have kept details due to the CO being in place?

Enterprise_1701C

eggbox wrote: »

What does the Court order you have actually state as it should show how much the debt is for and if interest is being applied?

But you might be lucky with the SAR as they should have kept details due to the CO being in place?

Slight problem, I thought we had a copy of the court order but it appears we do not.

I think we are just going to have to bite the bullet and contact them when my inheritance comes through and start negotiations.

We will start with the fact that we had absolutely no knowledge of this before we tried to remortgage and go from there.

Crazy, I thought paying off the mortgage would be the end of things, but there is a real mess to clear up, we now have a complaint in with the mortgage company because a mess up of theirs cost us a fortune, but we are not holding our breath, and we have this charge to sort. Fortunately we have no wish to move.

eggbox

Enterprise

You do need to get a copy of the Court order to see how much the Charge was made for and to see if there was interested added (which could be the reason for the two separate figures owing you were given?) If you don't you will be negotiating on a figure the creditor may have got wrong?

You will also be in a better bargaining position to offer a lower sum now, rather than what is actually owed, rather than them waiting till who knows when you sell the property many years down the line.

DAKOTA45

DAKOTA45 - your circumstances remain, in my view quite rare, with regards the application for a modified restriction and whilst it is of no solace rarity can often mean a lack of awareness and understanding in some quarters.


Hi LRR… thanks for the message… not quite sure what you mean by a 'lack of awareness & understanding'. The firm I am dealing with understands only too well that a standard form k restriction is as about as useful to them as a poke in the eye with a blunt stick, and have acted accordingly by modifying the restriction to include a 14 day notice of disposal.