Equitable charge from previous owner on land registry title

rose_T

Morning 

sorry you are still having problems de_nav

on my situation the vendors solicitor reached out to the bank around second week in august. We have still not had any updates. The original bank was TSB the mortgage was for 10k in 1983, I found out this was paid off in 94/95 when the lady who owned the property husband passed away. As far as I am aware he contacted TSB which then told him to contact Barclays who then told him to contact Halifax assured assets. Halifax is our lender and our mortgage offer expires on the 9th December. 

My solicitor copied a email that vendors solicitor emailed on the 6th September to me stating 
“We continue to chase the lender. The family cannot provide any proof that the mortgage has been repaid at all, its just their assumption. Why Thorntons didn’t deal with it when doing the executry is beyond me.  The family are quickly learning the difficulties it now poses to try to resolve. As soon as I have any update, good bad or indifferent I will let you know.”

he mentions Thornton’s sorting it out during executory but it was also his firm that sorted out confirmation ( probate) 

I will be contacting my solicitor this week to see if there is any updates. 

People will think why we are hanging around so long but we have our own personal reasons why we want to buy this house. We have waited since July 2020 and knowing our luck if we pull out now the following day everything could be sorted and we miss out lol 

de_nav

Had an update from previous solicitors that previous vendor's solicitors have reached out to NatWest on 28th September and requested redemption statement regarding that equitable charge.

Let's see how long does that take.

de_nav

it's been almost 2 weeks since previous vendor's solicitors have requested NatWest the redemption figures and they haven't received these yet, any idea how long does this take ?

HopeAndDriftWood

de_nav said:

it's been almost 2 weeks since previous vendor's solicitors have requested NatWest the redemption figures and they haven't received these yet, any idea how long does this take ?

The FCA used to "advise" companies to provide a redemption statement within 7 working days... but they'd be given leeway for the end of the stamp duty holiday even for straight-forward redemptions; and this doesn't sound very straightforward, so they'd probably be able to argue for longer if they needed to. 

Have you heard anything from the vendor's solicitor? As long as they're chasing NatWest and keeping you informed, there's probably a limited amount they can do, really.

de_nav

Thanks for the reply,
Vendor's solicitors keep saying that they haven't heard anything back from natwest. 
Told them to reach out to NatWest again and request to expedite it.
Let's see 

de_nav

Finally heard from solicitors that NatWest has lodged an application (CN1) via post with HMLR to remove this charge. Hopefully won't take long for HMLR to remove the charge now. 

rexmedorum

de_nav said:

it's been almost 2 weeks since previous vendor's solicitors have requested NatWest the redemption figures and they haven't received these yet, any idea how long does this take ?

Once you request the statement we will:

• Issue the statement within 5 working days of your request or sooner

https://www.natwest.com/mortgages/redemption-statement.html

canaldumidi

de_nav said:

Finally heard from solicitors that NatWest has lodged an application (CN1) via post with HMLR to remove this charge. Hopefully won't take long for HMLR to remove the charge now. 

The Land Registry can be requested by the applicant to 'expedite' the application because it is holding up a related transaction (your sale).

de_nav

Charge is finally removed by HMLR  
Thanks so much everyone for the assistance