Charging Order? The myth

eggbox

I understand your nervous but don't be. They can't register a CCJ as a restriction only a Charging order. If they managed to register the restriction whilst your details were still showing on the deeds it wouldn't make any difference; they've been notified the property is being sold, hence, the restriction terms are complied with and the new restrictions will become overreached, upon sale, along with the restriction already registered.

If they didn't manage to register the restriction until after you had sold then they are too late as your Beneficial Interest has left the property.

And SS can ask for anything they like, but what SS gets is down to your Solicitor, so I wouldn't worry on that score as they are only going through the motions as they normally would.

eggbox

BrunoWales wrote: »

Hi LR


We have only just began the remortgage process but I haven't mentioned the restriction as I didn't think it would be an issue in regards to getting an offer and they didn't ask on the application. I can probably arrange a full and final settlement to get the restriction removed if required. It may be wise to pull the plug on the process until I get the restriction removed.

Sorry for late reply. The situation is if you are remortaging with your existing lender then there is no need to worry about the restriction as they will already be the "first charge" on the deeds they insist upon.

But any new lender would be behind the restriction (date wise) and they would insist on the restrictions removal to ensure they have the "first charge" on the deeds.

Jackie235

eggbox wrote: »

I understand your nervous but don't be. They can't register a CCJ as a restriction only a Charging order. If they managed to register the restriction whilst your details were still showing on the deeds it wouldn't make any difference; they've been notified the property is being sold, hence, the restriction terms are complied with and the new restrictions will become overreached, upon sale, along with the restriction already registered.

If they didn't manage to register the restriction until after you had sold then they are too late as your Beneficial Interest has left the property.

And SS can ask for anything they like, but what SS gets is down to your Solicitor, so I wouldn't worry on that score as they are only going through the motions as they normally would.

Thanks eggbox, feel more reassured now, do I have cause for complaint to SS for them effectively lying to my solicitor in order to try to scare them/me into paying the balances?

eggbox

Jackie235 wrote: »

Thanks eggbox, feel more reassured now, do I have cause for complaint to SS for them effectively lying to my solicitor in order to try to scare them/me into paying the balances?

It depends on how (and forgive me) stupid you want to be? Given you are about to walk off with several thousands of pounds they are legally entitled to, I'd suggest trying to punish them further may just stir the wasps nest and they could get the hump? If they do, they might just decide its worth the time, effort and expense to get the Court to issue you with a Judgement Summons, whereby, you would be hauled into Court to explain why you haven't paid the Judgement (given you now have funds to do so?)

So, if it was me, I'd give the complaint a miss and tiptoe quietly off into the night with your money and good fortune intact

Jackie235

eggbox wrote: »

It depends on how (and forgive me) stupid you want to be? Given you are about to walk off with several thousands of pounds they are legally entitled to, I'd suggest trying to punish them further may just stir the wasps nest and they could get the hump? If they do, they might just decide its worth the time, effort and expense to get the Court to issue you with a Judgement Summons, whereby, you would be hauled into Court to explain why you haven't paid the Judgement (given you now have funds to do so?)

So, if it was me, I'd give the complaint a miss and tiptoe quietly off into the night with your money and good fortune intact

Hi eggbox, totally get what you're saying and noted.


I am wondering though if I have cause for complaint to the original lender for irresponsible lending, I know I'm at fault for taking out the loads/cards, but they just kept giving me money, I was borrowing from one card to pay the other and every time I asked for more, they upped my limit, I owe them around 32k in total and the only reason I am where I am now is because stopped paying them as I couldn't any longer as I lost my job and had to take one on less money, I think if I had continued paying them they would still be giving me credit now and god knows how much I would owe!

eggbox

Jackie235 wrote: »

I know I'm at fault for taking out the loads/cards

That's the bit you need to keep reminding yourself of along with the fact that you are still fortunate enough to be walking away with the money.

What ever indignation you may have about the banks, you are going against a Court order to payback money that is, legally, owed by someone else.

So the phrases "knowing when you're well off" and "let sleeping dogs lie" are what you should be repeating to yourself now.

ABE123

Hi Eggbox I’ve been looking through this thread and wonder if you would be able to help me. There are 3 restrictions on the property in my husband name, one is from a credit card and the other 2 from people who he did work for when he was self employed, due to various reason (my husband being depressed and unwell and also my son being in hosp) the work was never completed - he never got paid for the whole job just what he had completed, Unknown to me restriction were placed on the property in his name for the monies they say are owed as they had to get someone else to complete the jobs.
Our relationship is breaking down and I was hoping to remortgage to get his name off the mortgage- by doing this would this remove the restrictions? I understand from previous posts that I will have to approach the our cure mortgage provider. Ideally I would like to release some equity in the house to clear some of my debts and finish off house renovations and my husband can use his share to get a car and sort himself out. How likely am I do be able to do this? Will be best option to be to remortgage for what is left on the mortgage £60k. How would I go about removing his name from the land registry, He hasn’t paid into the house for a long time, we don’t have a joint account, I pay for all bills. Thanks

eggbox

ABE123

You should be okay to remortgage if you use your existing lender as they already have the "first charge" on your deeds which mortgage lenders insist upon. As your existing mortgage will have provisions for further lending it means nothing has to change on the deeds.

If you go to a new lender, however then the restrictions will have to be removed before any lending is granted. This is because without the restrictions removal, the mortgage lending would be behind the restrictions, in terms of date priority, and wouldn't be the "first charge" on the deeds they insist upon.

To go about getting his name of the deeds you need him to transfer his share to you which I think is done using form TR1 at the Land Registry (I'm sure LR Rep will correct me on that if wrong?)

ABE123

Thank You Eggbox, this thread has been most informative as we were on the understanding that we couldn’t do anything without the creditors getting their hands on the equity 1st. If we were to sell I am right in thinking that they only need to be informed, and they cannot just get the money. They will then have to obtain a further court order to go for my husbands part of the equity.

If he were to transfer his share to me using the TR1 form would the creditors know?

Land_Registry

eggbox wrote: »

ABE123

To go about getting his name of the deeds you need him to transfer his share to you which I think is done using form TR1 at the Land Registry (I'm sure LR Rep will correct me on that if wrong?)

Our online guidance explains how you can transfer the ownership and links you to the forms/completion notes you will need

Whilst you do not have to use a conveyancer we always recommend that you do as they are familiar with the forms/process, offer wider advice as appropriate and can also verify your identities

If the current lender has their own restriction on the title then you will need their consent and they would most likely insist on your using a conveyancer

As far as the other restrictions are concerned they would not be overreached by a sale from the two of you to just you. So they would remain on the register.

The 3 restrictions would also have to be complied with so you/your conveyancer would have to notify each creditor in accordance with the terms of the restriction as the transfer from 2 to 1 is a disposition

If you decided to sell then as this thread explains the restrictions would still have to be complied with and the mortgage paid off but the 3 restrictions would be overreached and automatically cancelled