Charge on Deeds

Chris1943 · 18 July 2011 at 5:31PM

No the charge doesn't, but the original loan was statute barred when they put it on that's the point

DVardysShadow · 18 July 2011 at 5:37PM

paddedjohn wrote: »

how long before it becomes statute barred? if the bank made contact in 1994 then doesnt it run from this date?

If it was initially and rightfully secured on OP's property, it never becomes statute barred. But if it was unsecured, then it becomes statute barred 6 years after the last payment or the last acknowledgement of the debt by the debtor. It is a common misconception that the creditor [lender] making contact will restart the clock. This is not the case, although it is possible that the OP acknowledged the debt in response to that contact in 1994.

This is all moot, really. It now hinges on whether the debt was rightfully secured on the property or not. If it was not rightfully secured, then it is statute barred several times over.

Chris1943 wrote: »

Dvardysshadow

Thanks for that, so what do I do now

First question is what is the actual document you got from Nationwide evidencing this charge? Any signatures or witnesses on it? Is it actually a valid charge on the property?

And has your property ever been registered with the Land Registry? If so, what is registered there? If you think the property has not been registered, is that actually the case?

I would say you really need to rack your brains for what happened at the time, the taking of the loan and subsequently and look at the evidence you have to decide whether the charge might ever have been authorised by yourselves. When you took the loan, did you understand the difference between secured and unsecured? If you did not understand, then did they slip this one past you when you signed up?

Chris1943 · 18 July 2011 at 5:59PM

The document from Nationwide is a bundle of papers going back over 100 years They are Title Deeds not a land certificate There are 2 photocopies of the registraton of charge form one for me and one for my husband
I knew the loan was unsecured and it was not a problem as I already had a job to start the following year. This was when before my mother's stroke. The bank knew that I would not be starting work and the reason for it. They said leave it and see what happens. The next thing in 1994 they sent a letter saying the account was being transferred to a head office branch and would be frozen. In 1995 I closed the original account as there was no money in it and I was not using it.

DVardysShadow · 18 July 2011 at 6:05PM

Chris1943 wrote: »

The document from Nationwide is a bundle of papers going back over 100 years They are Title Deeds not a land certificate There are 2 photocopies of the registraton of charge form one for me and one for my husband
I knew the loan was unsecured and it was not a problem as I already had a job to start the following year. This was when before my mother's stroke. The bank knew that I would not be starting work and the reason for it. They said leave it and see what happens. The next thing in 1994 they sent a letter saying the account was being transferred to a head office branch and would be frozen. In 1995 I closed the original account as there was no money in it and I was not using it.

In your position, I would just check the Land Registry to be sure that the property is unregistered.

Now, as for the photocopies of the registration of charge forms, don't be shy, what is on them?

Chris1943 · 18 July 2011 at 6:49PM

I have heard back from Nationwide regarding this and they say I have to contact the Land Charges department of the Land Registry

Nationwide say it is a Registration of Impending Action There is no follow up to say whether the action took place or not which is why I have to contact the Land Registry. That is definitely what it says.

They were apparently intending to go to court for but it looks as if they never got it done for some reason
Definitely unregistered - no conveyance for full market value since 1968

DVardysShadow · 18 July 2011 at 7:19PM

DVardysShadow wrote: »

... Now, as for the photocopies of the registration of charge forms, don't be shy, what is on them?

This question is important!!! Without an answer, everything else is a wild goose chase.

Strickers2 · 18 July 2011 at 7:37PM

Sorry it says Registration of I mpending Action giving name and property details and then says
Outstanding debt of £7000

Signed by their in house solicitors Signature looks like D E matthews

Chris1943 · 18 July 2011 at 7:40PM

Sorry about that My sister was last on here and didn't log out. Didn't realise until it posted.

DVardysShadow · 18 July 2011 at 10:23PM

Strickers2 wrote: »

Sorry it says Registration of I mpending Action giving name and property details and then says
Outstanding debt of £7000

Signed by their in house solicitors Signature looks like D E matthews

OK, I am not an expert in this, but it looks like a pre emptive action to prevent you from selling the house and leaving the debt unpaid while NatWest take legal action.

The time for taking such action is long expired and as it is unilateral [ie you have not agreed to it], it does not have the full standing of being a charge against the property - the worst I think it could do is cause problems on a sale while you get it lifted.

In your position, I would now be checking to ensure that there is no CCJ registered against you. You should know about this if there was, but sometimes these things do slip through. And take legal advice