Natwest and Joint? Business OD CCJ/CO? Settlement Offer for Charging Order? - oopps its a restriction k !!

[Bev01]

Hi - I’d really appreciate some advice re a charging order on my home.

In 2011 Nat West obtained a charging order. We have paid a nominal amount off the debt every month, without fail.

 

Our mortgage comes to an end and we have to sell by August. There is equity for the charging order but it doesn’t leave a lot for us to buy something else.

 

I wrote to the solicitor acting on behalf of the bank explaining this and asking if their client would accept an offer from the proceeds of the sale.

They have written back asking for my offer.

 

My question is - what percentage would be realistic?

We owe £42K.

I don’t understand why they would consider an offer as they will be able to get the whole amount when we sell.

But it would help if we don’t have to pay the whole amount, especially considering a large portion consists of interest applied when the debt first accrued.

 

What should I offer?

 

Thank you in advance for any advice you can give.

 

[dx100uk]

what was the charging order for?

 

was this Joint credit?

and are you both owners of the home?

 

[Bev01]

The charging order was in respect of our business bank account, and the account was in joint names. The mortgage is also in joint names.

[dx100uk]

Ltd co?

did you both sign Personal guarantees?

 

something is not right here 

[Bev01]

We were partners in the business. I have no recollection of signing a personal guarantee.

[dx100uk]

was it a Limited company

as it could not of been a sole trader one with 2 of you.

did you both sign up to natwest on the business bank account?

 

just musing here but if it was a ltd co. and you both did not sign personal guarantees then how did they enforce it?

did you both defend the court claim?

was it via northants bulk and you were both named as defendants? 

or separate claimforms?

 

something is not right here but im not exactly sure yet.

 

 

[Bev01]

It was not a limited company. Originally my husband was the sole trader, but it changed to a partnership consisting of my husband and myself. I vaguely recall signing up to the joint business bank account - but it was a long time ago.

 

Unfortunately I can’t find the court order. My husband did attend court. I cannot remember if we were both named as defendants, but all correspondence is addressed to my husband.

[dx100uk]

they cant get a CCJ/CO on a business bank account without taking you both to court.

you both must have been named on the court claim .

 

this smacks to me that they got a charging order on a joint bank account when they only named your hubby so it should have been a restriction k.

i might be barking up the wrong tree here but can you copy and paste EXACTLY what the charge states on your deeds please

if you dont have them

use the .gov.uk landregistry site 

and get a copy please

 

still think something smells here.

i bet the business was NOT registered in both your names at company house?

can you go check too?

 

dx

 

 

[Bev01]

I’ll check with the land registry and let you know.

 

I’ve found some old paperwork, not the court order unfortunately, but the solicitor refers to my husband as the defendant.

 

Do you still require a copy of the title deeds? I will get a copy if necessary, but there is a cost.

 

 

And we were not registered at Companies House as it was a general partnership.

[dx100uk]

So you were not named as a defendant?

 

And it was a joint bank od?

 

Your deeds could be critical then. Bet it's a restriction k not a dull co. Which means it doesn't need paying at all!!

 

Get you deeds only use the the. Give UK site 

Others scammers charge more than the £3 fee 

 

Dx

 

 

[Bev01]

Thank you - found the correct site and now have a copy of the deeds. It’s an Interim Charging Order in the name of my husband.

[dx100uk]

can you copy and paste the EXACT WORDING please.

minus pers details

[Bev01]

Not sure how to do this. Is it ok if I get my daughter to go this for me tomorrow morning? Sorry.

[dx100uk]

just type it out in a msg box here as text.

 

else redacted it in mspaint and upload as a pdf

read our upload guide.

 

me thinks this is a restriction k and that does not need to be paid if you move 

 

more on theat when you type it up.

 

though i suggest it reads the same as this thread.

 

 

 

[Bev01]

RESTRICTION: No disposition of the registered estate is to be registered without a certificate signed by the applicant for registration or his conveyancer that written notice of the disposition was given to Nat West Bank at c/o (solicitor) being the person of benefit of an Interim charging order on the beneficial interest of (husband) made by the ? County Court on 16 June 2008.

and

RESTRICTION: No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before the entry of this restriction, is to be registered without a certificate signed by the applicant for registration or their conveyancer that written notice of the disposition was given to Nat West Bank at c/o (solicitor), being the person with the benefit of an Interim charging order on the beneficial interest of (husband) made by ? County Court on 26 October 2010.

 

You will see there are two charging orders- the second one is for a lesser amount of £6k approx.

 

The other restriction on the deeds is on respect of the mortgage.

[dx100uk]

thats a restriction k and it DOES NOT need paying if you move

 

no wonder they are wanting your offer

it CANNOT be enforce 

it was useless to them from day one.

 

all that needs to happen is the buyers sols write to land reg to get it removed.

 

however what usually happens is they dont bother as its removed when the conveyancer registers the new owners

 

read that thread i posted and the threads in links there already

 

dx

[Bev01]

I'll read it thoroughly tomorrow and get back to you, if that’s ok.

 

There’s quite a lot to take in - but thank you so much for taking the time to look into this. 

 

I’ve now read the thread and it’s helped a great deal.

 

I have just 3 questions:

1. How should I respond to the solicitor acting on behalf of Nat West as I’ve already asked if they would consider an offer?

 

2. Will the solicitor pursue my husband for the debt once we have moved?

 

3. When choosing a conveyancer, what questions do I ask to ensure they are qualified to deal with restriction Ks  - and don’t just follow the CAB/NDL line? I don’t want the sales process to be held up.

 

Finally, thank you so much for your advice.

[dx100uk]

Read the other threads I listed in about the 1st few posts too 

 

I'll pop back later 

 

You're Doing fine.

 

 

 

 

[Bev01]

Trying to find a conveyancing solicitor that will deal with restrictive k, with no luck so far. They don’t seem to be aware of the difference between them and charging orders. Any hints/advice on how to find a suitable conveyancing solicitor?

Thank you.

[dx100uk]

Sorry site rules -  no allowed.

 

Where are you?

 

Dx

 

 

[Bev01]

Trying to find a conveyancing solicitor that will deal with restrictive k, with no luck so far. They don’t seem to be aware of the difference between them and charging orders. Any hints/advice on how to find a suitable conveyancing solicitor?

Thank you.

Maidstone