📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Secured Second Charge Loan - Sold House

Options
Hi everyone, long time lurker and recently registered (this morning!).

I'm hoping someone might be able to help, here's the story:

I purchased a new David Wilson home in September 2008 at £235,450 which was discounted quite heavily from the original asking price of £277000. (£41,550).

All of the documentation from the Solicitors and David Wilson mention this as a discount, however on Friday last week I received a letter through the post advising that I owe £41,550 on a 'second charge loan' which needs to be paid, 10 years following completion.

Now I am 100% sure that I haven't signed an agreement for a loan, I can't find any documentation anywhere mentioning a loan.

I called BDW today to get more clarity and they've advised that it could take a week to get back to me. My solicitors are also on holiday for a week, so as you can imaging I'm pretty worried about this!

The plot also thickens...I sold this property in June this year, and have now purchased another new home on HTB. During the sale, which was handled by the solicitors, there was no mention of a second charge loan on the property and the sale went through fine.

I've searched all over and can't find anyone else in the same situation, which isn't to my surprise.

I'm absolutely worried to the core about this! Can anyone provide any advice please? :)

Comments

  • TonyMMM
    TonyMMM Posts: 3,426 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    t_aitch wrote: »
    however on Friday last week I received a letter through the post advising that I owe £41,550 on a 'second charge loan' which needs to be paid, 10 years following completion.


    Who is the letter from ?
  • Barratt David Wilson. First letter I've had in 6 years.
  • Just spoke to BDW again and they've advised that it was a 'clerical error' their end.

    I understand these errors take place, but considering I received the letter on a Friday evening when the offices were closed, left me with the whole weekend in worry.

    I just hope that no-one else has received a letter. Have advised them as such.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    phew :beer:
    Changing the world, one sarcastic comment at a time.
  • some clerical error!
    Thinking critically since 1996....
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.3K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.