Got a Homebuy Keyworker Loan in 2004 - who do I owe??

brainhead

Hi, wondering if anyone can help direct me. I was lucky enough to get a Homebuy keyworker loan in 2003 that purchased 25% of my property, a small flat. In 2011, I managed to port the loan to a bigger property, where it then equated to 13% of the value of the property. We did some home improvements (it was a fixer upper) and had to ask the loan-administrators' permission - an easy process at that time. Now I'm looking to do an extension, but the administrators no longer exist! Housing associations do seem to merge and come and go over the past 20 years and I have approached some of the larger ones (MTVH, Ascent and L&Q) asking if they now hold the loan, but they all say no. Can anyone help me locate the right people? I'm sure I do need permission for the works.

In 2011 my contacts were with Metropolitan - details below.

I had no reference number, just the property address and an email trail back and forth with this written at the bottom.

Metropolitan Housing Partnership

The Grange | 100 High Street | Southgate | London N14 6PW |

FIRST STEPS to home ownership in London

Tiglet2

I took a look at the Companies House website. Metropolitan Housing Partnership changed their name to Metropolitan Funding PLC in 2015 and they are still active. Their registered address is the same. Maybe write to them at their address to see if they still hold the loan.

brainhead

Thanks - from what I can see this is not a company that would deal with individuals, and seems to be owned by the more public-facing Metropolitan Thames Valley (MTVH). I found this on a yearly accounts document:

"Metropolitan Housing Trust (MHT) is the parent of the group trading under the brand of Metropolitan Thames Valley (MTVH). Thames Valley Housing Association (TVHA) is a wholly owned subsidiary of MHT and MHT owns 100% of the shares of Metropolitan Funding Plc."

I feel like I'm back to square one, as I initially contacted MTVH thinking they would hold my details but was told

"Thank you for your enquiry. Further to reviewing i can not find your property on our equity loans list, neither is there a charge in favour of MHT on the title. Therefor we do not hold any interest in the property.

Kind regards

[Removed by Forum Team]

Metropolitan Thames Valley Housing  | The Grange | 100 High Street | London | N14 6PW"

You'll notice the address is the same

Myci85

What does it say on the charge on your title?

BikingBud

Go here - https://www.gov.uk/search-property-information-land-registry

No charge, no debt?

Winner?

brainhead

This is what I get form Land Registry but it mean little to me - the date of buying is correct 23/09/11

silvercar

You have a mortgage with Barclays. Im guessing that Barclays changed the name of their mortgage aria in 2018 and updated point 3. Point 4 means that Barclays agreed to make further loans as and when and these further loans have as much priority as the first mortgage ie they get repaid with the main mortgage.

Point 1 registers the land that the property sits on, restrictive covenants could be anything from not keeping chickens, not putting up second homes, sheds or satellite dishes. You can ask Land Regsitry for a copy of them for a fee, but I doubt it’s relevant to your home loan situation.

@Land_Registry can you add anything?

Land_Registry

https://forums.moneysavingexpert.com/discussion/comment/82082777#Comment_82082777

Only bit to add to silvercar's post is that the date change in 2018 would have related to Barclays Bank Plc having to secure their loans under the new 'UK' name as a result of the 'ring-fencing' of the domestic retail and business bank from the international and investment bank. All UK Banks had to do that so you will find others that refer to HSBC UK Bank Plc etc as well

That doesn't change the OP's position though so there's a couple of other things to consider/clarify.

When OP bought in 2011 and with the ported loan was that alongside a mortgage, for example with Barclays?

And is there anything after you name in the B Proprietorship Register?

Either way it might be handy to contact Barclays with your enquiry to see what they have on record but if that's simply the mortgage provider and MHP were an 'extra' they may have little to provide?

Happy to take a look at the 'history' of the register itself to see if that offers any clues from our end as to what was registered/removed for example although no guarantees it will add much to what you already know - DM me the title number if you want me to take a look.

Note - might also be worth emailing the Regulator of Social Housing by emailing enquiries@rsh.gov.uk just in case they can offer anything?

silvercar

If there is nothing on the deeds, the implication is that any other loan is an unsecured loan and as such it can’t impact directly on your sale.

If there is a condition attached to the loan, that it is due for repayment on the sale of the property, the loan company may well have a property alert set up on the property. They would be notified of a change to the deeds ie a pending sale and may then get in touch with you to demand repayment. However, that wouldn’t prevent the property sale occurring.

brainhead

I see - thanks everyone that is a help.

I did take out a mortgage when we bought in 2011. Can you tell me which bit of the Land Registry documents says there is a second charge on the property or is that only something that Barclays will know about?

silvercar

A second charge would be listed in the charges. So a number 5 in your list.

Can you answer Land Registry’s question as to “is there anything after you name in the B Proprietorship Register?”

It may be worth following Land Registry’s advice and emailing that address to see if they have anything, though if it isn’t secured on the property, that wouldn’t stop you selling, it would be an unsecured loan. (Though you might have signed a contract with them to repay the loan on sale).