Charge on a property but lender can't be found.

RonsDaughter

I have a little more info now... it looks like the sellers need to prove the deceased owner paid off an unregistered charge to an untraceable company...

user1977

RonsDaughter said:

I understand the loan was taken out through Reid but Reid changed hands and became Sun Securities. The loan was repaid to Sun Securities so would they be the charge holder? I don't really have much more info though I think someone said something was unregistered...

I'll take that as meaning that you don't have full details of who or what "Reid" or "Sun Securities" are/were. Whoever has a copy of the charge will have those details.

I'll send up the bat signal for the @Land_Registry rep and hopefully they can clarify what's involved when it's an unregistered charge with no discharge available.

As I said, a receipt isn't really going to cut it, both because it's too informal for something which is properly discharged by way of a deed from the chargeholder, and repaying what appeared to be the original debt doesn't mean there aren't other monies due (could have been a further advance, accrued interest/charges, charge left in place to secure a guarantee, etc).

RonsDaughter

user1977 thank you so much for taking the time to answer and to flag up this thread for @Land Registry rep.

I am also going check if the sellers have asked the bank to see if they are able to trace where the payment went as they may be able to uncover something the solicitor has been unable to find... well, it's worth a try!

I really appreciate your help. Thank you 

Land_Registry

user1977 said:

RonsDaughter said:

I understand the loan was taken out through Reid but Reid changed hands and became Sun Securities. The loan was repaid to Sun Securities so would they be the charge holder? I don't really have much more info though I think someone said something was unregistered...

I'll take that as meaning that you don't have full details of who or what "Reid" or "Sun Securities" are/were. Whoever has a copy of the charge will have those details.

I'll send up the bat signal for the @Land_Registry rep and hopefully they can clarify what's involved when it's an unregistered charge with no discharge available.

As I said, a receipt isn't really going to cut it, both because it's too informal for something which is properly discharged by way of a deed from the chargeholder, and repaying what appeared to be the original debt doesn't mean there aren't other monies due (could have been a further advance, accrued interest/charges, charge left in place to secure a guarantee, etc).

Appreciate the bat signal but reading the OP I doubt if there’s anything to add here. Seems contact with us has already triggered contact with Treasury so should be aware of legal requirements here
If by ‘unregistered’ they mean the property then any legal charge will be registered as a land charge with the Land Charges dept.