Charging Order? The myth

DAKOTA45

weimimamma wrote: »

Thanks Eggbox as ever help many of us sleep a little easier at night, there is others in front of the person dating back to 2008 and 2011 on our property so she is at the back of a long old queue.

Hopefully we will continue and find a buyer for the property and see how we go.

I hope we hear from Sparkly Fairy soon as to if her property went through yesterday or not....... hopefully all went well :-)

Would it be worth us sending correspondence requesting no additional interest be added to the debt as she has already had a lot of additional money added for interest todate.

My creditor didn't go to any trouble to find out if there were any other creditors in front of the queue…:(

D45

Sparklyfairy

Update: We completed on Friday & ALL the money was transferred to our bank account by 10:30.
Don't lose hope, people..I'm proof this thread is correct!

eggbox

Hi Sparkly and great news!

Can you pm all is ok to pass Solicitor details on?

Good luck in your new adventure!

gchads

Hi Guys,
I'm in a similar situation with an ICO on a property jointly by my wife and I. The ICO was issued back in 2008 to me and I've tried to come to an agreement with creditor to pay off in lump sum. There obviously wanting to hold out for full amount. I need to remortgage now to get a lower rate after years of bad credit history not allowing me. They said they have a full charging order even though on Land Registry stated it's only an interim charging order. Is there anyway I can remortgage without paying of these leeches. My current mortgage provider doesn't do mortgages no more.

Thanks

gchads

sampete

Great news Sparklyfairy, thanks for updating everyone. Good luck in future ventures and life.

eggbox

gchads

Mortgage lenders will, unfortunately, only lend if they have the first charge on the mortgage due to the Power of Sale required in the event of you defaulting on the loan.

So any new lender would, therefore, require the Restriction you have to be removed prior to lending to enable being the first (by date) registration on the deeds?

The Land Registry records aren't always updated of an FCO happening so your creditor could may have an FCO. But with jointly owned property there is little difference in the effect an FCO has over an ICO?

Sparklyfairy

Thanks everyone! Eggbox, there should be a pm from me to you. I've deleted my inbox so it's now clear again to those who have tried to pm me.

eggbox

Thanks Sparkly! I have sent a further pm so let me know if not received ok!

Bon Voyage!

DAKOTA45

Sparklyfairy wrote: »

Update: We completed on Friday & ALL the money was transferred to our bank account by 10:30.
Don't lose hope, people..I'm proof this thread is correct!

YAAY!! :j

D45

eggbox

SOLICITOR NOW VERIFIED AND AVAILABLE FOR SELLERS!

Just to let everybody know we now have a watershed moment as we have a Solicitor verified as genuine (they completed Sparkly's sale last week) and has indicated he is more than happy to take on new clients.

As we can't advertise details on the thread can anyone interested pm me in the first instance.

Eggbox