Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
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    Default RBS/Shoos Charging order - cant re mortgage

    Hi

    I am looking for some help...

    I own a property with my daughter. We have a 75% mortgageicon and a 25% loan from Redrow that is due to be paid next year (10 years interest free)

    I am not working, on ESA with no prospect of a return to work.

    I have a final charging order on my share of the property.

    We have been trying to negotiate with the solicitors who have the charging order to pay this at a reduced rate as there is no equity in the property, actually 15K less than we paid. My daughter wants to pay it and move the mortgageicon to her name and pay the redrow loan. She now earns enough to do this.

    Solicitors won't accept a lower amount which means my daughter can't remortgage.

    Our relationship has broken down and it's vital I move, I also need an adapted property.

    Is there any way to take it back to court and ask for this to be lifted and made unsecure or get the judge to order a lower settlement. They have 3k in fees added from the original 8.5k to 11.8k

    Anyone know if there is anyone I can talk to about this?

    thanks for your help


  2. #2
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    Default Re: Charging order

    who has the charging order over you?
    and why didn't you defend the original CCJ?

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  3. #3
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    Default Re: Charging order

    post 10 here
    https://www.consumeractiongroup.co.u...w-with-Restons

    can you name names please

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  4. #4
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    Default

    RBSicon got CCJ whilst I was living out of the country, Shoosmiths did the charging order.

    We have letters from court / land registry saying its a charging order.

    When we had a buyer 2 .5 years ago, we went to the solicitors as I thought we could sell and it would go back to unsecured, but was advised had to be paid as it was on the land registry.

    We lost the buyer and since then have been trying to resolve this with Shoosmiths so my daughter can keep the house.


  5. #5
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    Default Re: Charging order

    then that solicitor needs shooting.
    this is a restriction k
    it does not prevent a sale!

    as for re-mortgaging yes it will prevent that.

    go get the exact text of it from land registry bet it say RBSicon not shoos

    post it here word for word minus pers details

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  6. #6
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    Default Re: Charging order

    I'll dig the letters out shortly, but what is the difference in a sale and a remortgage in terms of the debt being paid or not? either way I am off the mortgageicon and not living here.


  7. #7
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    Default Re: Charging order

    I want someone to pop in and check me on this all as being correct

    your situation is that:

    you and your daughter currently have a joint mortgageicon
    RBSicon got a CCJ on a debt solely yours and got a charging order
    in that case it can only be a restriction k. [which is one of the many types of charging order]

    your daughter wants to re-mortgage alone

    you wanted to sell and some solicitor a few years back didn't know the law properly and said you couldn't sell without clearing the restriction K which is incorrect.

    in normal circs you cant re-mortgage without paying off the restriction k
    however i'm wondering in this case if that's true and she alone CAN re-mortgage without having to pay it??

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  8. #8
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    Default Re: Charging order

    Hi

    I found the land registry letter from my appeal to stop the charging order. I can't find the other documents but the letter says

    The position in this matter is that the applicant has lodged an application to enter a Restriction in Form K in the proprietorship register of the above title, in respect of a charging order dates 13 July 2013. The CO was granted in Bury CC and is expressed to charge the share and interest of ( Me) in the above property as security for payment of the judgement debt due to the applicant. It is not expressed to charge the share and interest of the other joint registered proprietor in the property.


    So, does this mean it's a section K and can be sold without them knowing?


  9. #9
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    Default Re: Charging order

    Hi

    Yes, everything you have typed is right...

    I hope someone can help

    thank you all for your amazing hard work


  10. #10
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    Default Re: Charging order

    Restriction k yes good
    Now I need andyorch to pop in and read my query in post 7

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  11. #11
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    Default Re: Charging order

    Of course she can remortgage...if she has the income to support the application and there is enough equity to borrow to clear the existing mortgageicon and loan and restriction (if necessary).

    It may be easier to use the existing mortgageicon company rather than a new one.

    We could do with some help from you

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  12. #12
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    Default Re: Charging order

    She has the income to support the application, but there is not enough equity to clear the CO - only the 25% loan to the builders and the mortgageicon - the house is worth 15K less than we paid for it.

    This is where it gets a mess...

    can she just remortgage, pay the loan and mortgageicon and then the CO goes back to unsecured and I will pay 1 a month?


  13. #13
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    Default Re: Charging order

    Just go for the mortgageicon and loan and see if the application is approved.

    With regards to the CO...this you state was originally 8.5k and now 11.8k...what fees have they added......?

    What date was the judgment? what date was the CO applied?

    They can only add debt interest at 8% per annum.

    We could do with some help from you

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  14. #14
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    Default Re: Charging order

    mortgageicon have given a DIP, waiting on builder to agree to less ( we bought at 200K, now worth 185K, original loan was 50K but you repay 25% of sold price, therefor we should only need to pay them 46K which is affordable. But then nothing left for CO. Daughter would take a hit on fees etc to keep the house

    My fear was we would have to clear loan and CO when not enough money

    Date of CCJ was April 2011 and CO was made final in Jan 2014, they got interim in July 2013. we tried to appeal on the grounds that there was no equity in the house

    the fees are court fees, letters etc from the original CCJ to CO _ I think they are out outrageous, but think I am stuck with them?


  15. #15
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    Default Re: Charging order

    So what fees have they added ?

    A CO cant add fees to the judgment....and not 3.2K in 4 years.

    We could do with some help from you

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  16. #16
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    Default Re: Charging order

    its the fees from getting the CCJ to getting the CO along with court fees, solicitors fees, letters etc...since the CO they haven't added a penny


  17. #17
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    Default Re: Charging order

    Okay so the judgment was 11.8K......

    You made it sound like fees were being added since judgment " They have 3k in fees added from the original 8.5k to 11.8k "


    So again .... go for the mortgageicon and loan and see if the application is approved....forget the K restriction for now...if it requires settlement your mortgageicon will advise before granting the application.

    We could do with some help from you

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  18. #18
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    Default Re: Charging order

    Sorry, I wasn't trying to mislead over when the fees have been added.

    Thanks for your help

    Lets see what the mortgageicon company say now

    thank you all


  19. #19
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    Default Re: Charging order

    One final thought re the Solicitors......if there not prepared to accept a F&FS... you could submit an N245 through the court with your income and offer them 5 per month...at least you will have it on a legal footing rather than paying nothing...and it will teach them for not considering your offer...your choice.

    We could do with some help from you

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  20. #20
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    Default Re: Charging order

    thanks andy...

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