Second charge on my mortgage

Stressedddd

Please can someone help am going out of my mind with worry,
Its long story but here goes...
16years ago I found myself in a bit of a mess,I have a mortgage on my home in my name only which I have had since 1997, my partner had left me while I was pregnant in 2000,after having my daughter I found myself suffering post natal depression I couldn't go back to work for a while.
with me owning my own home I wasn't entitled to any financial support.
my ex partner vanished,so the long and the short of it I took out a loan advertised in the newspaper for 5000 to pay off 4 months mortgage arrears and well basically live and support my child until I was able to go back to work 12months later.
I paid the loan for 12months then found myself missing payments as I had to pay child care etc etc etc.
Since then I received a few letters from the company. I contacted them asking for copies of the paperwork to be told they don't have them to hand.
12 years ago I met my husband and was more financially stable. I contacted them again and was given the same answer.
the debt was on my credit file up until 5 years ago. I have had no correspondence from the company.
we have had another baby our home now is too small and we want to move but my mortgage company state there is second charge on my property. They gave me the name and address of the company. I contacted them, they said the person that dealt with that particular company has since left and they will try and find any details for me,I am beside myself with worry we really need to move,my husband does not know any of this,his name is not on the mortgage just mine...
Please please can anyone advise me on what I should be doing,I will make an appointment with a solicitor but can someone please advise me for now. any help would be gratefully received thank you for reading

kingstreet

If you took a loan secured on the property, you will need to clear it when the property is sold, otherwise the lender can/will prevent the sale proceeding.

Your solicitor will be responsible for repaying the loan and giving your vendor's solicitor an undertaking that the property will have "unencumbered title" at completion.

National_Debtline

Hi there,


This sounds as though it was a personal loan, that escalated to a CCJ and a charging order (rather than a secured loan). You could try and speak to Land Registry to double check this and for more guidance on what to do next. You will probably find that this is registered as a 'restriction' as opposed to a full charging order because the property was jointly owned and this loan was in your sole name. This is not an issue, as such, but you may need some legal advice, because this would not be automatically paid through the sale.


You will need to find out who to pay now, before you put the house on the market, as that would make things easier for you and prevent a sale being held up later in the process. If the loan wasn't repaid in full it will need to be paid via the sale and equity. I hope that helps,


Laura
@natdebtline

TrickyDicky101

National_Debtline wrote: »

Hi there,


This sounds as though it was a personal loan, that escalated to a CCJ and a charging order (rather than a secured loan). You could try and speak to Land Registry to double check this and for more guidance on what to do next. You will probably find that this is registered as a 'restriction' as opposed to a full charging order because the property was jointly owned and this loan was in your sole name. This is not an issue, as such, but you may need some legal advice, because this would not be automatically paid through the sale.


You will need to find out who to pay now, before you put the house on the market, as that would make things easier for you and prevent a sale being held up later in the process. If the loan wasn't repaid in full it will need to be paid via the sale and equity. I hope that helps,


Laura
@natdebtline

Looks to me like the property wasn't jointly owned and was in the sole name of the OP...