Charging Order? The myth

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  • blueback
    blueback Posts: 78 Forumite
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    Hi Blueback,
    I did thankyou for your post and lets say this could be invaluable to a lot of people,I was asking if anyone else had had any experience because despite spending a few months on the net and phone calls to some solicitors there is still no further information.
    I would be gratefull if you could let me know (via PM) the name of your solicitor as it seems they know what they are talking about (just like your goodself)and maybe they could help me out.

    Cheers

    Nick

    Nick

    I cant give out my solicitors details without consent. They are just a standard High Street Solicitor.

    The Land Registry make it very clear with how they deal will C/orders on jointly owned properties

    You are therefore correct in saying that when the Land Registry receives an application to register, for example a transfer (sale of property), we will not ask to see the consent(consent means the creditor has applied to court in time to have priority on any equity ) of the person who has the benefit (the creditor) of the charging order

    We will only want a certificate from the applicant for registration or his conveyancer that the person who has the benefit of the charging order has been given written notice of the transfer.

    If both joint owners sell the land to a third party the restriction will be cancelled when the transfer to the purchasers is registered.

    I will try and gain consent to provide contact details of my solicitor if you still need clarification

    Blueback
  • holly09
    holly09 Posts: 10 Forumite
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    Hi Blueback,

    I've just sent you a personal message with some questions relating to this. Would really appreciate some of your wisdom and experience. Great thread, by the way. Not something that there is much written about elsewhere.

    H
  • usednote
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    blueback wrote: »
    yep, you've got it. Let them go through the process (fighting them all the way of course). Once the restiction is in place ( Land Registry send you a letter) put the house on the market, inform your solicitor of the situation (make sure thay understand restrictions) and wait for completion.

    Enough on the subject now as we dont want to alert the vultures


    My first post on these forums Blueback, I would just like to thank you for posting this info.

    I have a home in joint names with 'my' equity enough to pay off about 70% of my debt. The debt arose through joint ill health but is all in my name. To lose my home would finish me off good and proper and the possibility has brown trousered me ever since hearing about charging orders. I am not trying to avoid paying the debts I just can't work at the moment and am paying the token £1.00 pm. My worry is that my creditors won't wait long enough for me to get well enough to return to work( been paying £1.00 for twenty months now) and am always in dread of that letter that says times up!

    Funny thing is I have been trawling the net about charging orders for weeks and it has only been today that I found a link to this thread:beer::beer:
    I feel like a weight has come off, never was "over my dead body" more true:embarasse

    Thanks again
  • holly09
    holly09 Posts: 10 Forumite
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    I would firstly like to thank Blueback for bringing this to our attention. I am also in the process of, hopefully successfully, selling my home with one of these restrictions. I will update this thread with my experiences once I have had success. In the meantime I found this very interesting article written by a partner at Blake Lapthorn which clearly outlines the weakness of these restrictions.

    Sorry- I'm not allowed to post links in a post. Anyone who would like to be pointed in the direction of this article - please send me a personal mesage.
  • Cumbrian_Male
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    I'm in this situation all debts in my name house jointly owned. I have 2CCJ's and 1 CO. Just at the stage of finding a solicitor and making FF offers.
    I have a cunning plan!
    Proud to be dealing with my debts.

  • fatbelly
    fatbelly Posts: 20,699 Forumite
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    Just thought I'd post this link to an article written about this 'problem' from the creditor viewpoint

    http://www.bllaw.co.uk/pdf/financeandrecoveries_0806_charging%20orders%20on%20property.pdf
  • mummum2
    mummum2 Posts: 617 Forumite
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    Fatbelly,

    Thanks for that, interesting reading......:beer:

    MM2
    Long Hauler No: 51
    DMP Mutal Support Thread No: 207
    Proud to be dealing with my debts
    DFD - June '13, aiming for December '12
  • blueback
    blueback Posts: 78 Forumite
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    At last, not just my word for it. Thx for the link

    :T
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
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    Hi all, I just wanted to remind everyone that, while I'm not dismissing or agreeing with anything that blueback has said, in the case of property mortgages and charging orders you should ALWAYS seek specialist legal advice and not rely on the advice from a forum as it's impossible to know the history of posters, their motives and the extent of their knowledge.

    You can find a specialist housing solicitor through the following link, which also has a calculator for legal aid.
    http://www.communitylegaladvice.org.uk/gateway/housing.jsp


    Just for the record this isn't anything personal against blueback, I just want to remind people that anyone and everyone can post what they like on here so it's ALWAYS best to back up anything through a legal specialist, especially when it involves debt and housing. :)
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • blueback
    blueback Posts: 78 Forumite
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    I absoloutely agree immoral_angeluk and on every occasion I have advised that viewers should get proffessional advice on this.

    The difficulty is that many Conveyancors do not understand the regulations - they need to be shown!

    The proof will be when others that have contacted me with successes

    BB
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