Checking for debt on house purchase.

MrNervous

Hello,i am in the process of buying a property and i want to find out if there is any debt on the property i am buying.
My conveyancer has has the land registry title deed which states a debt owed to a mortgage company only.
During the conveyancing the vendor has been rather inclined not to answer questions or tell little lies,so is there a way to find out if there is any other debt (loans,credit cards) on my proposed purchase ?.
Thank you for your time.

bobbymotors

It doesn't matter if the vendor is up to his ears in cc debt or other debt as long as its not secured on the house.

And the vendors solicitor cannot and will not pass clear title to you unless any charges on the house are settled first out of the sale proceeds.

So nothing to worry about whatsoever

G_M

MrNervous wrote: »

Hello,i am in the process of buying a property and i want to find out if there is any debt on the property i am buying.
My conveyancer has has the land registry title deed which states a debt owed to a mortgage company only.
During the conveyancing the vendor has been rather inclined not to answer questions or tell little lies,so is there a way to find out if there is any other debt (loans,credit cards) on my proposed purchase ?.
Thank you for your time.

The only 'debt' a property can have will be listed as a 'Charge' on the Land Registry Title (assuming the property is registered).

Checking the Title is a standard part of the conveyancing process.

Whether the seller has debts (credit cards etc) is none of your business. You are buying the property, not marrying the seller.

MrNervous

Thanks for the advice,just asking as the vendor has been a pain,we found out today he is on bail for fraud.

Guest101

MrNervous wrote: »

Thanks for the advice,just asking as the vendor has been a pain,we found out today he is on bail for fraud.

Right, and how did you find that out?

Not that it makes any different. On bail means not charged with

marksoton

MrNervous wrote: »

Thanks for the advice,just asking as the vendor has been a pain,we found out today he is on bail for fraud.

Yes, i'd be making a condition of the sale that he shows you all his bank statements. And whilst you're at it you'd probably best get a urine sample too...

moneyistooshorttomention

G_M is correct that any debt secured on the house will be registered as a charge against the house. So it will be there on the Register entry accompanying Title Plan (which you can obtain your own copy of, if you like, direct from the Land Registry for only a few £s - but you should be shown a copy of this by your solicitor/legal executive/conveyancing firm handling the sale).

Personally - I'd mention what the vendor is like to whoever was doing the legal work on purchasing my house. I'd probably tell them verbally exactly what I'd found out re my vendor and just put something in writing to effect of "As noted in our phone conversation of x date - can you take particular care to ensure all is in order as regards information received about the vendor" (or words to that effect).

itchyfeet123

Guest101 wrote: »

On bail means not charged with

Umm, no. It means someone has decided you're not a danger to society and will probably turn up to court, and thus there's no good reason for the state to take on the expense of jailing you while you await your turn before the court.

Guest101

itchyfeet123 wrote: »

Umm, no. It means someone has decided you're not a danger to society and will probably turn up to court, and thus there's no good reason for the state to take on the expense of jailing you while you await your turn before the court.

Sure about that? Not heard of people being on police bail, without being charged?


Regardless, on bail = not convicted, happy now?

MrNervous

Thank you all for the comments.
We have now found out the vendor has not kept up with an order under the proceeds of crime act,maybe he was selling this property to satisfy that order.
Our conveyancer has been of little help and recommended a solicitor to check out the vendor,so we have done this and so far we have learned the vendor owes money to the inland revenue (vat),the court system and several more companies he has also applied bankruptcy.
So 2 hours of asking a solicitor for help we have found out the life story of the vendor,not very good reading unless your into white collar crime.
So it looks like we will withdraw from the purchase and not exchange contracts tomorrow.

Thanks.

marksoton

You were due to exchange tomorrow!?

I still don't understand the problem?