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Nationwide Credit Card and overdraft (N.I Belfast)


Lilythepink
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  • 1 year later...
What do the Nationwide mean,when they say if the debt can be secured on my property. And they only get their money when my mortgage is redeemed

 

If they can put a "charge" on your property means that an entry is made on the Land Registry for the property,

which could mean that when the property is sold, they could recoup the amount of debt.

 

 

Charge depends on a number of factors, including is the property in sole or joint names, is it yours etc.

 

 

It is much like a mortage in as much that, if it is mortgaged, and when the property is sold, the mortgage is usually redeemed on that property.

 

 

IHTH In other words, they are trying to secure the debt, which may be unsecured at present?

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