Link financial property restriction

nicurro

Hi,
I am asking about a restriction on my property gained by link financial in 2011,
The restriction relates to a debt my wife had in her name.
The mortgage was in joint names if this is relevant as I read that there are rules for this scenario.

It has come to light now as we are remortgaging the property.

What will be the process for dealing with this?

Will we be asked to settle the debt or can we still get the remortgage finished without settling the debt?

If we need to settle are we better to negotiate a lower figure?

Thanks

Nic

EssexHebridean

How was the property registered? Both names or just your wife's? (The names on the mortgage are irrelevant) also saying how it was held (Joint tenants or tenants in common) may help.

What form is the restriction in, also?

nicurro

Hi,

Property is registered in both names.

Nic

WhenIam64

If we need to settle are we better to negotiate a lower figure?

There was a debt. There was a CCJ. The CCJ was converted to a Charging Order and there is likely to have been some response by the debtor to the court paperwork.

There are a lot more questions to be answered about the paperwork between you before asking here. A Charge is there to ensure they get paid in full.

But you might get a more detailed answer to your subsequent questions here

https://forums.moneysavingexpert.com/discussion/1839539/charging-order-the-myth&page=204#topofpage