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Charging order
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Tilly78
Posts: 5 Forumite
Hi I have either charging order or interim order put onto my mortgage years back with a loan we fell behind on due to loss of work - agreed by court paying £25 which we have paid now for years possibly 12 years will this continue for the rest of the mortgage time? Or can they apply again to force to sell my house? Thank you
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Why 12 years after the event do you believe anybody will try to force you to sell your house?
I have to admit to some confusion. I understand having a charging order put on your house but I don't quite understand having a charging order put on your mortgage. Could you please clarify
You are asking if paying this £25 (per ?) will continue for the rest of the mortgage time. Are we to assume that this debt was repaid by your mortgage lender and added to your mortgage? if so, then it would be a reasonable assumption that the payments will end when the mortgage is repaid. If not, can't really see any connection between this and your mortgage and would assume the payments will continue until the loan debt is repaid. Who do you make these £25 payments to? How frequently are they made (weekly, monthly, annually?). How much was the original loan debt? How much have you repaid so far?0 -
Charging orders are not put on your mortgage, the order relates to your property, it’s registered at the land registry as a charge, nothing whatsoever to do with your mortgage.
So you are repaying the loan the charge relates to @ £25 (I assume per month).
It would make sense to contact the original creditor and ask for a statement of account, that will tell you all you need to know, you continue paying until the debt is settled.
An order for sale is extremely unlikely, they can only apply if you stop payment, personal circumstances are always taken into account, and you would have the opportunity to defend it, they are very rare nowadays.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Much appreciate the replies, and making a little
More sense of it. We pay £25 a month which was agreed at the time we was at court - the loan was 30k and we’ve paid now around 10yrs to a dept company that I assume RBS had passed it onto. I remember now when we went to court about land Registry. Last year we had a ppi claim and we were sent a small payment via chq and a larger amount went into a RBS account which we have no access to so I called them today to check where money went to coz we have no access - and that’s when I was told it paid off towards the debt- which is fine but I’m certain the man muttered about no further action yet for assets- I was a little shocked and worried I had opened a can of worms. Thanks 😊0 -
I wouldn't be too concerned about his mutterings. £30,000 is a very large amount for an unsecured bank loan though. You must have had a pretty large income to have been able to get that on top of a mortgage. What happened to cause you to default it? Has your income level recovered so that you could perhaps make larger payments? At £25 per-month it is going to take you a VERY long time (100 years to be precise) to repay a £30,000 debt (assuming no interest is being charged).0
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Effectively the charging order is a second charge on your property, as has been explained forced sales are rare and most likely the mutterings was in the hope you would change your repayment plan - it would have been a call centre person who gets paid by results so you increasing your plan is a positive outcome for her/him.
Whilst they won't force a sale, if you do remortgage or sell then the secondary charge can be paid as part of that - any conveyancing solicitor would see all charges paid from a sale before releasing any money to you.
In regards to the PPI it is often normal that it goes to pay off the debt the PPI was associated with. If you have been paying for 10 years you should have got statements at some point, to know what's paid and what's left, if not you can ask for one.0
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