Is there no hope?

Fuddemy

Hi,


After years of help reading through threads on these forums I have decided to join and ask my own question in the hope I can find some help. My story, I'm sure, has been heard a thousand times before, however with a small twist.


I have successfully sold my property and the potential buyers have secured their mortgage. I, on the other hand have not. My offer on the new house has been accepted and all other things are in place for the move but I cannot get a new mortgage and here's why...


... My credit is very poor due to a failed self employed business debt which landed me some 17k in debt and a 3.5k charging order restriction placed on my house. I now have cleared all the debt and have raised a 10% deposit (£15,200) for my new home (purchase price of £152,000) and have the 3.5k to pay off the charging order. However the company that holds the charging order are no longer operating. They have sold their business and I assume the new owners of the company now own the charging order. The problem is they have not responded to any of my letters or my solicitors when we've asked who to pay. this Charging order is holding back my credit score and denying me a mortgage because I cannot find who pay.


So, having used a financial advisor to better my chances of a mortgage he's now returned to me saying there's nothing he can do and has cut ties. he claims nobody will give me a mortgage because of the order or rather Restriction on me.


Can anybody offer some help with my problem. My wife and I earn a combined annual wage of £52,000 and have no Loans, credit cards, store cards or any debts whatsoever, Other than the one on my house. I spoke to my current lender Accord who say they no longer deal with bad credit and are unlikely to offer us a mortgage even if we manage to pay the charging order off because of the "6 year rule".


So basically "how screwed am I?"




thanks.

Jhoney_2

Have you checked the Land Registry? Assumingly that would be/is where the 2nd charge/charging order would have been filed? If it legitimately changed hands, it might be entered there.

If there is nothing registered there, perhaps contacting the credit file agency to ask? There is a list of company names on there and they should be able to assist.

You may also want to write a note on the file stating the above as well so interested parties have your side of the situation at hand when they view you file(s). e.g trying to contact lender, no longer operating etc etc. Better than nothing and it may gain the loan company's attention.

Perhaps you can offer to stash the amount outstanding in a separate account as part of the mortgage request to the lender?

I have no idea if any of that will work, but these are things you can try.

Good luck and congratulations on getting this far -

If you can prove that the charging order lender was not contactable/responding and failed to advise you of the change of circumstances, you may be able to reduce that 6yr rule too...worth a try!

Jhoney_2

PS, forgive my ignorance, but how did you manage to sell the house then?

Fuddemy

Thanks so much for your advice.


The land registry states it's Heiniken UK that are the benifactors of the Restriction. "Scottish & Newcastle" were the company that I owed the debt to, but sold up to Heiniken UK. I have tried to contact Heiniken via letters to the address stated on the land registry and have had no correspondence with them after almost a year of trying. 3 moth ago I instructed my solicitor to attempt to resolve it and the only update I have is I am now told it is a "restriction" and not a "charging order" due to the debt being in my sole name and my house is jointly owned.


I like the idea of putting my side of things on my file though, never thought of that. My solicitor can prove we have tried to contact them.


Thanks again.

Fuddemy

Jhoney wrote: »

PS, forgive my ignorance, but how did you manage to sell the house then?

By which I mean I have accepted an offer and they have their mortgage in place ready to go.

Jhoney_2

Send a copy recorded delivery signed for to the Lender address on file. Send one with your address/contact details to the LR via your solicitor. That is proof and maybe a deadline for contact to be made with you else as LR to remove. May not be allowed though.

I have to admit, given your further information i feel like i'm having my leg pulled here, but if not, that's what i'd do.

Fuddemy

How do you mean "having your leg pulled?" I don't understand?


I will graciously take your advice in sending the further letters, I will ring my solicitor in the morning regarding the land registry. I simply want this paid and show satisfied on my credit file, I am hoping this will make me appear more favourable to lenders.


Not sure if it's relevant but it wasn't a lender for the original debt it was a supplier. in 2007 I took on a tenancy agreement to run a pub. in 2009 I decided to give up and cut my losses. Smoking ban, recession and broke being just a few reasons my brief spell at self employment came to an end. All my savings had been wiped out. I used whatever credit I could get to pay off important bills such as the tax man and business rates. sadly suppliers were the least of my worries, until now!


As hinted in my original post I believe I am now in a position to afford a larger mortgage. I have never missed a payment and have been with the same lender for 8 years. We have a disposable income of £1100 per month after all bills are taken care of, including our current mortgage. But none of this seems to matter. I'm clutching at straws here but sorting out this charge would hopefully afford me the opportunity to upsize.


Once again I truly am grateful for your time and responses. in your opinion, how likely are my chances of securing a new mortgage. I am willing to accept very adverse terms. I have done the calculations and firmly believe I can afford upto 11% on £136,800.

Thrugelmir

What has your solicitor advised?

Jhoney_2

Okay, that cleared that up. I believe if you solve this, you will get one but you'll have to wait for the experienced forum members to comment on the mortgage. I'm sure it's not the worst situation they have encountered or at least not the first of it's kind.

I would focus on the restriction though as it will not get to that stage without the sale - unless you have alternative money to pay for it.

Have you tried this contact address - HQ

Tel: +31 (0)20 523 92 39


Postal address:

Heineken N.V. Global Corporate Relations
PO Box 28
1000 AA Amsterdam
Netherlands

Joint their online media etc etc

https://secure.theheinekencompany.com/contact-us

Fuddemy

Thrugelmir wrote: »

What has your solicitor advised?

My Solicitor is struggling to gain any sort of response from the holders of the restriction. His Advice is to "keep trying" and seek the expertise from a broker. However i am not sure if my chosen broker has given me any service at all or has simply run a mile of it.

Fuddemy

Jhoney wrote: »

Have you tried this contact address - HQ

Tel: +31 (0)20 523 92 39


Postal address:

Heineken N.V. Global Corporate Relations
PO Box 28
1000 AA Amsterdam
Netherlands

This is what it says on the land registry i have obtained.
(22.04.2010) RESTRICTION: No disposition of the registered estate,


other than a disposition by the proprietor of any registered charge


registered before the entry of this restriction, is to be registered


without a certificate signed by the applicant for registration or their


conveyancer that written notice of the disposition was given to


Heineken UK Ltd formerly Scottish & Newcastle UK Limited


(Co.Reg.No.65527) at Ashby House, 1 Bridge Street, Staines, Middlesex,


TW18 4TP, being the person with the benefit of an Interim charging


order on the beneficial interest of ........... made by the


North Shields County Court on 22 March 2010






This is the address i have used, but that phone number you have given me got me nowhere. do you think it would be wise to send a signed for delivery to that address too?