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Inhibitions house sale

EllBe
EllBe Posts: 3 Newbie
in House buying, renting & selling
Can you sell your house if there are inhibitions on it but the sale will cover the debt? If so how long would it take to lift the inhibitions?

Comments

  • p00hsticks
    p00hsticks Posts: 14,498 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    For clarity, are you in Scotland ? (I think inhibition in regards to property ownership and debt is a Scottish legal term - in England we'd talk about putting/having a charge on a property)
  • EllBe
    EllBe Posts: 3 Newbie
    Yes in Scotland. The solicitor has applied to have it lifted.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yes, an inhibition is a Scottish thing, basically means the creditor has priority if you try to sell/mortgage your property. No real complications for a sale if there's enough money to cover what you owe, your solicitor gets a settlement figure and sorts out getting the creditor to sign a discharge.
  • EllBe
    EllBe Posts: 3 Newbie
    Thanks that’s settled my mind as there is an offer.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    We have inhibitions in England too.
  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    Not in my house we don't.
  • Sibz
    Sibz Posts: 389 Forumite
    100 Posts Combo Breaker Name Dropper First Anniversary
    G_M wrote: »
    We have inhibitions in England too.

    Get a couple o whisky's doon ye, that'll get rid of them ;)
This discussion has been closed.
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