Charges against house holding sale up

happyhelston

Dear All
Looking to you all for some advice, normally fantastic on here !
I have a house for sale which the buyers agreed to purchase 1st July 2017 - supposedly no chain, cash and trouble free !
We are now nearing the middle of February and stuck on a merrygoround of issue with charges placed against our house by 2 x credit card debts totally 10k. These were charged against our house by our then mortgage company Northern Rock now Landmark by Restons Solicitors acting on behalf of Amex and MBNA.
Our buyers solicitors have instructed our buyers that they should not proceed without the charges being removed but we cannot remove them without the house sale going through.
I have read some previous comments on here regarding charges and Northern Rock and would like some advice, maybe our solicitor isnt aware of an issue that we may be able to solve ourselves ?
Any help as always greatfully received.

eddddy

Could you have misunderstood what's being said?

The charges will have to be removed, but that's generally done on completion. i.e. Your mortgage co and the 2 credit card cos will be paid on completion out of the sale proceeds, so all 3 charges will be removed.

Or is there an issue that the sale price of the house won't cover all the money that is owed (mortgage and credit cards)?

Tiglet2

Providing there will be enough monies available once the property has been sold to clear the debts, your solicitor should be able to give an undertaking (promise) to discharge the charges on completion. Speak to your solicitor and clarify how to progress the matter.

happyhelston

Hi - thank you for taking the time to reply.
That is exactly what we have been saying to our buyers solicitor all the way along - there is enough in the pot to cover both mortgage and the charges so we had always assumed that was exactly what would happen and you have confirmed it
Thank you

happyhelston

Thank you for taking the time to reply and confirming what we have been arguing all along !
We are not sure if maybe there is something going on with our buyers that they are just not saying but now I have my facts I can go back and continue to argue the case.
Our solicitors have written a letter confirming that the charges will be paid, they have even had the director of the solicitors to confirm this but still with no movement from the buyers solicitor - the whole situation is very odd !
Many thanks

Cakeguts

We bought a house with two charges on it neither was the mortgage and the charges got paid off at completion. What we needed to know was that this would happen and that there was going to be enough money from the sale to pay them.

happyhelston

Thank you so much - the solicitor has got confirmation now from both Mortgage and Restons (who unfortunately have the charges) and had it all signed by all parties but the buyers solicitor is still not happy with this.
Their solicitor is now saying she will be contacting the companies direct which I am sure is not going to be acceptable with anyone.
I seriously think that the buyers just dont want to proceed !!
Many thanks for you taking the time to reply

societys_child

Makes you wonder what their solicitors reason could possibly be for creating this extra extra work . .

Thrugelmir

societys_child wrote: »

Makes you wonder what their solicitors reason could possibly be for creating this extra extra work . .

Be their clients.

Thrugelmir

happyhelston wrote: »

I seriously think that the buyers just dont want to proceed !!

Sounds as if they are trying to stall the process. What's the buyers position, moving from rental?

Margot123

This does seem odd.

I'm currently buying a house with charges, and my solicitor said it was a simple task being sorted out by the seller's solicitor. They didn't envisage any problems or undue delays.