Jump to content


Hallmark

Equity charge on property

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2499 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Can anyone give me advise on this please???

 

I purchased a house back in 2007 with now my ex partner (never married).

 

Along with the northern rock mortgage we also got a loan for home improvements etc for over £20k.

 

After a year we then split up and decided that we would both pay off the loan half each.

 

I paid NR over £13k and received a letter to say I had been removed from the loan.

 

last year I finally got my ex to sign the house over to me and I went to proceed with the change of parties with NR which was all going very well until the last hurdle.

 

After everything had been signed at the solicitors and all the documents had been sent in to NR to carry out the change of parties

I received a letter from NR stating that they are withdrawing the change of party offer due to a equity charge being put on the house

and until this was paid the change could not go ahead.

 

Unknown to me my ex had not paid her half of the loan off or any monthly payments so NR went through the courts and their is now a charge on the house.

 

I have been paying the mortgage for 5 years and to date my ex is still joint owner of the house due to this charge.

 

My ex does not have the money to pay off this charge and refuses to pay anyway.

NR won't give me any details regarding the loan as its not in my name anymore.

 

I'm not perusing this issue with my solicitor as he is not a specialist in property charges and each letter would be costing me more money.

 

Does anyone know where i stand or have any advise on where I stand with this charge and If I could get NR to remove it so I could continue with the change of parties?

 

Any advise would be appreciated.

 

Many thanks

Share this post


Link to post
Share on other sites

Can anyone help.

 

Does anyone know if the charge below from my land registry search is classed as a restriction?

 

It's an outstanding debt from my ex and we are joint names on the property.

 

6 (21.04.2008) Equitable charge created by an Interim charging order of

the South Shields County Court dated 3 December 2007 in favour of

Northern Rock plc.

NOTE: Copy filed.

 

End of register

Share this post


Link to post
Share on other sites

Two threads merged...please keep to one thread for this issue.


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

Share this post


Link to post
Share on other sites

It's not a Restriction as it states that an "Equitable charge" has been created.

 

This is only allowable if the debt is in joint names, too. If it isn't then there has been an error and you need to inform the Land Registry of such.

Share this post


Link to post
Share on other sites

Originally the loan was I joint names but when we split up I payed half of the loan off and I was removed from the loan and was not accountable anymore.

I have that in writing from northern rock.

Share this post


Link to post
Share on other sites

If that is the case then you should inform the Land Registry immediately as your Ex's debt affects your share of the equity upon sale if the CO is left registered at the LR on an equitable basis.

Share this post


Link to post
Share on other sites

Yes this is the case.

The story is I went through the change of parties process with NR to sign the house into solely my name this year and received the offer from NR but when things went to get finalised NR withdrew the change of party offer as they had realised they had put a charge on the house. They are now saying the charge needs to be paid before the transfer can go ahead or to even sell the property.

Share this post


Link to post
Share on other sites

More posts moved to this thread.

 

Hallmark...please just keep to this one thread for this issue.


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

Share this post


Link to post
Share on other sites

Egg box

 

I have just spoke to the land registry and they said that the equity charge will stand and that the charge will apply to my ex's half of equity if the house was sold.

 

This means I won't be able to complete the change of parties.

 

Do you think I could maybe apply to get the equity charge removed through NR if at all possible?

Share this post


Link to post
Share on other sites

Hallmark

 

The Land Registry's own rules amended in 2003 state that an "Equitable" charge is not allowed to be made on jointly owned property if the Charging Order is only against one of the joint owners. The person with the benefit of the CO can only register what is called a Restriction to notify that a CO on the "Beneficial Interest" (equity) of one of the owners has been made. So you need to ask the LR why they are allowing something that is against their own rules?

Share this post


Link to post
Share on other sites

Eggbox

 

Do you know if the quote who have said is written on a document anywhere so that I can reference it?

Share this post


Link to post
Share on other sites

Hallmark

 

The Land Registry shouldn't need this explaining but its notified HERE at Section 2 in their Practice Guides

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...