Discharge a Restriction Charge on Property

amandawhit

Does anyone have any advice please regarding Fredrickson International please? They own a Capital One credit card debt which has been entered as a restriction charge on my property. We are in the process of selling the house and the conveyancers have chased Fredrickson numerous times during a 3-week period for a redemption figure to discharge the restriction (a normal request would ten 48 hours). They are ignoring our requests and we have barely hours left before the whole chain falls apart because they are failing to supply the necessary information for the house chain to proceed. We have explored every avenue, including contacting the Court that entered the charge restriction. Does anyone have any procedural advice and what we can do? Our conveyancers say they have never been in this predicament where a creditor is not complying with their request. Our family is distraught.

sourcrates

Give National Debtline a ring first thing in the morning, they should be able to advise you.

fatbelly

If its a sole debt (as it would be - it's a credit card) on a jointly owned property then, as you say, it's a restriction.

Your conveyancing solicitor needs to read the wording of the restriction and comply with it.

Most are of a standard (Form K) form and do not require discharge of the debt - merely that a 'certificate' be given notifying the owner of the restriction of the impending sale.

No disposition of the registered charge dated ...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 ... being the person with the benefit of a charging order on the beneficial interest of ... made by the ... court on ...

So he has probably already complied, and can proceed. The restriction will become 'overreached' when the sale goes through, and drop off the Land Registry record.

Charging Orders? The Myth is all about this.

Land_Registry

As fatbelly posts the wording of the restriction is vital here - can you share the wording perhaps but with the names removed?

And the Charging order - the myth thread can be found here