Charging order on property, how long once settled before its removed from land registry.

Iansellers

Hello,

I've recently settled an old finance agreement where the lender had a charging order registered behind my mortgage on the land registry.

I was wondering if anyone had had any previous experience of how many weeks it takes once the debt is settled before the land registry record is updated? Assuming that people do what they need to in the chain.


Thanks in advance for any help

tacpot12

I know that the Land Registry has dreadful backlogs at the moment. I exended the lease on my property nine months ago and this still isn't registered, so I would not expect it to be done in a matter of weeks. There are usually accepted ways of working around any problems like this, such as you providing proof that the finance agreement has been settled via a letter from the lender that confirms they have requested that the charging order be lifted. Your solicitor should be able to advise you about what can be done. 

GrumpyDil

Also, if the issue is impacting a transaction there seem to be ways of expediting the various processes, although charging order removal may be slightly more problematic as it involves a third party. 

@Land_Registry might be able to advise further. 

Land_Registry

GrumpyDil said:

Also, if the issue is impacting a transaction there seem to be ways of expediting the various processes, although charging order removal may be slightly more problematic as it involves a third party. 

@Land_Registry might be able to advise further. 

Timescales can and do vary for a variety of reasons. How long the creditor takes to apply to update the register to remove their interest is of course down to them 
Once submitted the average wait time is 4-5 months. How long it then takes depends on the application itself as GrumpyDil infers although if the creditor has applied it’s usually quicker to complete compared to say if You applied as more checks are likely