Land Registry - Charges register

xxleoxx

Hello everyone

I need help! I have not long been married and have just registered our home as the 'Marital home'. I have now been sent copies of the Completion of registration and I am confused by something that is showing up! In February of this year (we were married in Jan) there is a charge stating..

(04.02.2010) Proprietor: SANTANDER UK PLC (Co. Regn. No. 2294747) of Deeds Services ... (their address) ...

I am newly wed, and ,my partner is at sea so I am unable to contact him regarding this, and I am extremely worried. Does this mean the house has been repossessed? Does it mean he remortgaged? I am so confused and I dont want to make a fuss if it is nothing to worry about.

Any help would be much appreciated.

Thands

xxleoxx

Cannon_Fodder

Who is your mortgage with ?

xxleoxx

Sorry getting confused. My understanding was that it was with Northern Rock, then he changed it to Abbey National - which is now Santander. But I dont know why it says that they are now the proprietors when there is no record of the previous mortgage company on there that is the same? This is why I am worried.

Keith

They own the charge, if you look further up in the Proprietorship Register you should see your names.

xxleoxx

But what is the charge for? Actually - what is a charge?

luckyfool

A charge is a security over the property. i.e. The property cannot be sold without their permission unless they receive the money they are owed in full first from the proceeds. The charge will be removed when you repay the mortgage, or it will be replaced by a charge with a new lender when you remortgage. A property can have a number of charges against it ordered in priority, e.g. a secured loan could be a 2nd or 3rd charge. Also if you have a bad debt then a creditor can go to court for a charging order, which puts a charge on the property to secure repayment of their debt.

Evilm

xxleoxx wrote: »

But what is the charge for? Actually - what is a charge?

Its a note on the register noting their interest. Should the Land Registry receive a application to change ownership of the property the charge stops them from doing it unless they have a document from the mortgage company saying they agree to it or are happy to release their charge on the property.

Its security for your lender. The new date will probably just be that the charge was updated from Abbey National to Santander to be correct since the name change and merge.

xxleoxx

Thanks i feel a bit better now - just got worried over nothing!