Charging Order? The myth

eggbox

Thanks for the update LRR.

Just out of curiosity; I know there is a mortgage on this property so how would this affect a mortgage company registering their charge over the property?

peakbg35

eggbox wrote: »

peakbg35

Yes it is but this is where a solicitor can help as (I believe) you make arrangements for further lending in to the charge that will enable it to remain the first on the register in the same way a mortgage can allow for further lending. This will cover you should house prices rise substantially for any reason giving you a lot more equity.

Finding a solicitor wanting to take this on is proving very difficult. What would be the risks involved with filling out the CH1 form myself? Most I have spoke to don’t want to know once they find out the legal charge is to a family member. The closest I have got is one firm would act on my behalf but as there is a conflict of interest they would not be able to act on behalf of third party? I’m confused by this as it doesn’t require a signature by third party on the CH1 form.

Land_Registry

eggbox wrote: »

Thanks for the update LRR.

Just out of curiosity; I know there is a mortgage on this property so how would this affect a mortgage company registering their charge over the property?

Only affect would be how their processes work re wanting their charge registered within a certain timescale. Most lenders have a specific period in mind after which they press the solicitor.

However the lender will invariably have priority with a pending OS2 (priority search) and the live application so such fears should be dampened but the backlog can cause a few process jitters depending on the lender

If you want to share the title number and Plot number I can check?

eggbox

Land_Registry wrote: »

Only affect would be how their processes work re wanting their charge registered within a certain timescale. Most lenders have a specific period in mind after which they press the solicitor.

However the lender will invariably have priority with a pending OS2 (priority search) and the live application so such fears should be dampened but the backlog can cause a few process jitters depending on the lender

If you want to share the title number and Plot number I can check?

Thank you LRR title is WM624045

eggbox

peakbg35 wrote: »

Finding a solicitor wanting to take this on is proving very difficult. What would be the risks involved with filling out the CH1 form myself? Most I have spoke to don’t want to know once they find out the legal charge is to a family member. The closest I have got is one firm would act on my behalf but as there is a conflict of interest they would not be able to act on behalf of third party? I’m confused by this as it doesn’t require a signature by third party on the CH1 form.

You must always remember that a Solicitors priority is to look after their own interest first and their paying clients second

Your best bet is not to ask a Solicitor to act for you just to provide guidance (for a fee) to ensure you fill in the form correctly. You then don't have to explain the beneficiary is a family member as its non of their business.

The reason the Solicitors have been backing off is because "family" issues can be more complicated which would mean more work for them!

DannyPearce90

Rule number one:

Do not ever agree to change an unsecured debt to a secured debt.

eggbox

DannyPearce90 wrote: »

Rule number one:

Do not ever agree to change an unsecured debt to a secured debt.

Unfortunately, the purpose of this thread is trying to deal with the fact that the Law allows creditors to change an unsecured debt to a secured debt.

Land_Registry

eggbox wrote: »

Thank you LRR title is WM624045

Many thanks although there is nothing pending against that title - the last plot removal was registered back in April 2018.

eggbox

Land_Registry wrote: »

Many thanks although there is nothing pending against that title - the last plot removal was registered back in April 2018.

Hi LRR if there is nothng pending there may be an error on the LR site as the property address definitely shows up when you type in the post code and number which is WV14 8TY House number 6.

Let me know when you've seen that info as will then delete!

Land_Registry

eggbox wrote: »

Hi LRR if there is nothng pending there may be an error on the LR site as the property address definitely shows up when you type in the post code and number

Let me know when you've seen that info as will then delete!

No error - the website will confirm that the plot/address is registered as it is still, along with several other adjoining plots, still part of the developer's title. No application to register the transfer of that plot/property has yet been submitted