B136 Restriction on property

Grahambud

hope someone can help with answers to these questions regarding a charge against my house

There is a B136 restriction on my property so when or if the house sells and I pay the ex girlfriends mum what I owe her (about £127k), can she ask for interest on it, or do I just give her the original amount? she gave me £127k for the deposit on verbal agreement she live there until she dies. However, the family broke down and no-one actually lives there any more. It's just my name on the deeds and I pay the mortgage. I don't dispute that I owe the money to her, but if the house never sells or takes years to sell, how much, if any, interest can she add as I've heard things about there's a standard 8% interest but also compound interest....?????

Also, do I legally have to have the house up for sale and is she allowed to suddenly decide she wants to live there again, even if I've decided to move back in.?

Does anyone know if I would be stopped trying to set up a new business from the house?

Thanks in advance of any pointers/advice

National_Debtline

Hi Graham

Welcome to the forum.

The B136 serves to restrict the property from being sold without the consent of the "restrictor". It's not an obligation to sell the property - that would require a separate application to court.

As for interest, in the absence of any formal written agreement it will most likely fall to a court to determine what can be claimed - statutory interest @8% per annum is possible but this is speculative.

I would recommend that you seek proper legal advice on the issues you have raised.

Regards

Dennis @NDL

Grahambud

Thank you very much indeed, that certainly clears up some concerns - much appreciated :T

arcon5

Grahambud wrote: »

hope someone can help with answers to these questions regarding a charge against my house

There is a B136 restriction on my property so when or if the house sells and I pay the ex girlfriends mum what I owe her (about £127k), can she ask for interest on it, or do I just give her the original amount? she gave me £127k for the deposit on verbal agreement she live there until she dies. However, the family broke down and no-one actually lives there any more. It's just my name on the deeds and I pay the mortgage. I don't dispute that I owe the money to her, but if the house never sells or takes years to sell, how much, if any, interest can she add as I've heard things about there's a standard 8% interest but also compound interest....?????

Also, do I legally have to have the house up for sale and is she allowed to suddenly decide she wants to live there again, even if I've decided to move back in.?

Does anyone know if I would be stopped trying to set up a new business from the house?

Thanks in advance of any pointers/advice

If your agreement was she could live there for the rest of her life I suspect unless you both agree to rescind from the agreement and she is reimbursed the sum owed then she would have rights to continue with her rights to live there in the same way you continue to benefit from the money provided.

Regarding the business, it's more likely to be a problem with the mortgage provider and/or council. Mortgage company may have certain clauses. And the council depending on the nature of the business, if for example it would otherwise attract business rates and a change of 'use'.
Realistically though, millions use their home as a business, from motor traders to accountants to eCommerce business' without consequence. So long as your not converting it in to a garage with swarms of visitors day in day out it's unlikely to cause any problems or have any consequences.