How can you confirm what Loan is secured?

animox

Hi

I have a business loan and overdraft with HSBC which is secured against my house.
I also have a personnal overdraft and credit card with HSBC which up to now I presummed was unsecured.

But someone mentioned the other day that it my well be that the security they have may cover all debts with them whether in the companies name or personnal?

any one heard of this, or if there is a way of checking?

Cheers for any help

antrobus

I expect that what the 'someone' means is that HSBC are very likely to have obtained an 'all monies' charge against your house in respect of the business loan and overdraft. Which would indeed mean that it covers all advances they have made to you. I imagine that the original loan documentation etc would tell you what you'd signed up for, or a search on the Land Registry would reveal what charge HSBC had placed against your property.

animox

I seem to have 3 charges on my register of title for my house. one is noted as HSBC mortgage which I presume is the mortgages I have with them.
The other 2 are identical and just note HSBC the Sheffield Securities processing centre with address and sort code.

So no mention then of "all monies" but also no mention of a specific debt?

The loan mentions a Guarantee limited to £60K to secure all company liabitlities (so thats the loan and overdraft)
So that pretty much answers my questiion I think.

antrobus

animox wrote: »

The loan mentions a Guarantee limited to £60K to secure all company liabitlities (so thats the loan and overdraft)
So that pretty much answers my questiion I think.

Ah, so your business is a limited company, and you've signed a guarantee and offered security in respect of that guarantee. Yes, if the guarantee is specifically limited to £60k and specifically refers to company liabilities then that's your personal exposure.