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Title deeds question if wording. Help needed pls.
B:
‘RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate or by the proprietor of any registered charge, not being a charge registered before the entry of this restriction, is to be registered without a written consent signed by the proprietor for the time being of the Charge dated 3 September 2020 in favour of United Trust Bank Limited referred to in the Charges Register.’
under :
The proprietor of the Charge dated 3 September 2020 referred to above is under an obligation to make further advances. These advances will have priority to the extent afforded by section 49(3) Land Registration Act 2002
Comments
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It means that there is currently a mortgage on the property with United Trust Bank Ltd.2
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Thank you Slithery. So nothing to worry about then.0
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This is a property you're looking to buy? Your solicitor will not proceed to completion - CANNOT - without the charge being removed. It's the vendor's problem.2
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Ditto above
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naynay said:Thank you Slithery. So nothing to worry about then.Not if there actually is an outstanding mortgage with them.But there have been a couple of threads recently where it's come to light that a lender's charge that should have been removed when the morgage was paid off wasn't. If this was a while ago and records have been destroyed or the company providing the mortgage has since been taken over it can take a while to convince the erstwhile lender to agree to remove the charge.1
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People prior to the digital age at the LR. Left a small balance owing in order to obtain free storage of the property's title deeds. The debt was never fully paid off in order for the charge to be lifted.p00hsticks said:naynay said:Thank you Slithery. So nothing to worry about then.But there have been a couple of threads recently where it's come to light that a lender's charge that should have been removed when the morgage was paid off wasn't.2 -
Recall elderly uncle telling us to leave a tenner outstanding when paying off the mortgage in full to keep the deeds safe.0
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