Does a charge on a property become Statute Barred?

Iamme1

:mad: We have a mortgage that we are hoping to pay off within the next year or so with some money we have coming to us.

We also have a charge on the property that we only found out about when we tried to remortgage about 3 or 4 years ago to get a better rate.

We know we have paid off this dept, but Barclays have "lost" the paperwork, and even gave three different amounts of what is "left to pay" when we enquired about it (after the mortgage advisor had found out about it and before we knew about statute barring!). We are currently searching for our paperwork, but know some was destroyed when we had a water leak.

The question is does this become statute barred 6 years after the latest enquiry. We are not trying to avoid paying it, it has been paid off, we are trying to avoid giving more to Barclays, considering most of this consisted of bank charges that fall well before the reclaim debacle!

Any advice would be most welcome.

Thank you.

Dan_1976

I am confused, if you have paid off this debt surely you wont just sit and take it?

Wutang_2

Iamme1 wrote: »

:mad: We have a mortgage that we are hoping to pay off within the next year or so with some money we have coming to us.

We also have a charge on the property that we only found out about when we tried to remortgage about 3 or 4 years ago to get a better rate.

We know we have paid off this dept, but Barclays have "lost" the paperwork, and even gave three different amounts of what is "left to pay" when we enquired about it (after the mortgage advisor had found out about it and before we knew about statute barring!). We are currently searching for our paperwork, but know some was destroyed when we had a water leak.

The question is does this become statute barred 6 years after the latest enquiry. We are not trying to avoid paying it, it has been paid off, we are trying to avoid giving more to Barclays, considering most of this consisted of bank charges that fall well before the reclaim debacle!

Any advice would be most welcome.

Thank you.

Forget the statute barred stuff - its just a favourite word on this site - you need to sort it out with the lender. Get a statement for a start which will clarify if its paid off or not. And its also not unenforcable!

Pincher

Just imagine what it would be like in a few years, when we do everything online, and there IS NO PAPERWORK:eek:

Lenders are constantly forgetting to remove the lien on properties, because there is no penalty.


Alternative perspective
___________________

In some countries, where tenants sneakily transfer the house into somebody else's name and sell it from under you, having a lien is actually a more effective security device than lock and key.

Iamme1

Dan_1976 wrote: »

I am confused, if you have paid off this debt surely you wont just sit and take it?

We do not want to sit and take it.

We tried to get a statement from the lender, that was when they informed us they had "lost" the paperwork (the part that says we have paid it). We had no end of trouble with them (Barclays), we even had one occasion when they moved money from one account to another without asking which meant we then ended up paying fees on both accounts. Now they seem to want us to pay this off twice.

We know we have paid it, we are just having trouble proving it, we suspect that this paperwork was lost through the water leak we had. We don't want to make any more enquiries with the lender if it will become statute barred in a couple more years because that would re-start the clock.

I just want to know if it is worth leaving it a while before we pay off the mortgage, in the meantime paying off part of it.

In truth we just want to be able to turn around and say we have paid this thank you very much, even if you haven't got the paperwork, and for them to be able to do nothing about this imaginary debt.

We are not trying to get out of paying it, wouldn't mind so much if we were, but we spent ages paying off all our debts and to be hit with this is a real bummer!

Iamme1

I have changed the title of this thread, and am rather hoping it might produce some answer.

We have tried to get information from the lender, as I said they claim to have lost the paperwork - strange that they still have note of the charge then? I am not willing to be back to them and start the clock ticking over again if that is the case.

I just want to know if we can leave it to stew a while and then say bad luck, we have paid even if you do not have the records, but you can't do anything anyway!

PPPPLLLLLEEEEEAAAAASSSSEEEE

Conrad

I'm not clear exactly what you are asking, but I think you are asking whether a historic debt that has been registered by way of a charge over your property, will at some point 'fall off' and be no longer due as it's over 6 years old.

If that is indeed what you are asking, then I think the answer is no, that debt will never dissapear and you have to pay it off for the charge over your home to be dissolved.

As for you saying 'you know youn paid it off', well in that case prove it, it's that simple. Go back and look at your Bank statments to find the credit going through your account to repay that debt.