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WFS 'Charge' on property


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Hello All

 

I hope everyone is well on here........

 

I'm posting on behalf of my mother who has nearly sold our old house. We have 3 "secured" loans on the house, one being the mortgage and one being welcome finance who we have fallen heavily into arrears with, although strangely they have taken no action to reposesses the house despite not being paid in a over a year. When my mum rang them to make a reduced settlement payment to welcome, the young man on the phone said the loan wasnt secured?! On checking the land registry I have found the following charges

 

C: Charges Register continued

4(23.09.2004) REGISTERED CHARGE dated 6 September 2004.

5 (23.09.2004) Proprietor: PARATUS AMC LIMITED (Co. Regn. No.

 

3489004) of 5 Arlington Square, Downshire Way, Bracknell, Berks

 

RG12 1WA. and of DX 122530 Bracknell 2.

 

6 (03.04.2006) REGISTERED CHARGE dated 31 March 2006.

 

7 Proprietor: KENSINGTON MORTGAGE COMPANY LIMITED (Co. Regn. No.

 

3049877) of 1 Providence Place, Skipton, N Yorkshire BD23 2HL.

 

8 (18.06.2007) Charge dated 12 June 2007 in favour of Welcome

 

Financial Services Limited, trading as Welcome Finance.

NOTE: Copy filed.

The charge in red - obviously belonging to Welcome, does not read as a "Registered Charge" like the others and doesnt contain address info etc - does this mean the loan isnt in fact secured on the property? This would certainly explain why they havnt taken action to reposess! Obviously, if the loan isnt secured we can proceed with the house sale (there wil be a shortfall otherwise) and are in a better position to make a reduced settlement offer to clear the debt with welcome!

Thanks for reading and thanks in advance for any help

 

xxxxxx

 

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  • 1 year later...

this thread is more than a year old

 

what is your problem

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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What is the distinction between a "registered charge" and a "charge"?. Are they the same thing or does one have more bearing than the other. Reason being my son has a "charge" in favour of welcome finance but there is absolutely no enforceable agreement.

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