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Second Charge ?


zestyzo
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Hi not sure where to post

 

 

 

We are trying to transfer my Dad's house to me. However we thought there was a charge on the property of £31000 and were told if there is we can't transfer deeds until debt is cleared. It turns out that after contacting the land registy that there is a caution on there not a charge. Does this mean that we can now transfer deeds as its just a caution? We only managed to find out amount of debt through barclays and it was in there closed cases unit. They are still charging 23p a day interest onto the account. Is this right for a debt in the closed cases and that there hasn't been any correspondence for in over 20 years???

Main thing is I need to know if the caution will stop the transfer from happening.

 

Thanks

Z

 

If there is somewhere better to post this please tell me and I will repost.

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You can get the actual documents from Land Registry Online for a few pounds and it will clarify what is and is not on there.

Debts over 7 years can normally be written off. Barclays cant chase a debt 20 years old by law but if the caution is theres then they should remove it.

It will depend on the wording of the caution but often it wont stop the transfer.

Just because you may do the transfer does not mean the caution will be removed.

I would suggest you hire a property solicitor for a fixed fee and get it sorted properly.

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so if it turns out it is a charge absolute through the court can they then chase the debt even though the has been no communication about it since early 90's? or is every type of debt unforcable after so many years. I'm quite happy to take on the charge with the property if thats what it takes. But if we can get it removed because it hasn't been dealt with for so long that would be better. Was thinking of offering settlement figure to get them to take it off. But I was worried that once I offered some sort of payment they would be able to enforce the full amount.

 

Thanks for your help

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