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OH's EGG Loan CCJ - now want voluntary Charging Order On jointly owned Property


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Still ignoring pressure to restart a regular repayment plan with the 5th and current owner of the debt.

However, a new issue has arisen.

 We have to remortgage.  

We are speaking to a new mortgage provider but their solicitor is insisting that the Charge be removed from the Title Deeds before we can proceed.

We have tried to explain that it is not a Charge on the property but is in fact a Restriction K.

Even though we now have a better understanding of the difference between a Charge and a Rest.K we don’t actually know if anyone will be able to give us a remortgage without the Rest.K first being removed.

And if it does have to be removed that obviously means having to pay the debt which we just cannot afford.  

Have tried so many times to research online about this but not much and not very clear information out there.

Would very much appreciate some guidance please and thank you.

 

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On 07/10/2023 at 10:35, Hogie said:

The text from LR is as follows:

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 Egg Banking Plc being the person with the benefit of an interim charging order on the beneficial interest of **** ***** made by the ***** County Court on 11 August 2007 

 

at the time, if both owners signed a voluntary charge it can not be a restriction k. 

but it looks like one? as above .....

if you re mortgage with the same lender is doesn't need paying

if you re mortgage with a new lender then most probably you will have to settle it.

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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Thank you DX100uk.  Your excellent advice has really helped again. 

The mortgage company we are speaking to have accepted that it is indeed a Restriction on our deeds.

However, within the wording that Land Registry have recorded on our deeds an interim charging order is mentioned. 
 

The text from LR is as follows:

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 Egg Banking Plc being the person with the benefit of an interim charging order on the beneficial interest of **** ***** made by the ***** County Court on 11 August 2007 

I can appreciate what the mortgage underwriters are saying but I do not understand why interim charging order is mentioned when it is not a charge but a restriction. 
 

Please explain if possible.

Thank you.

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the process for attaining a charging order is the same no matter what it results in.

interim first then latter they can go for a full charging order.

at ICO stage its recorded the same on your deeds until a full CO is applied for and granted.

however, as in your case, it resulted in simply a restriction k which cannot be converted into a full charging order so the entry remains stating ICO.

smart cookies on your side IMHO now ...hope you succeed.

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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  • 2 weeks later...

I wondered if you could help me further please.

The mortgage company have said they are happy to make an offer of a mortgage but BY LAW cannot do so until the Restriction is removed from the deeds.

I would like to know if it would work to transfer the property into my name alone.

Would Land Registry then automatically remove the Restriction as my OH would not be a registered co-owner.  

Even if LR are obliged to contact EGG who applied the Restriction, they no longer own the debt anyway, the debt has actually been sold on a few times.

 Is this something you would be able to give advice on please?

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On 22/04/2024 at 02:46, dx100uk said:

f you re mortgage with the same lender is doesn't need paying

if you re mortgage with a new lender then most probably you will have to settle it.

which is it?

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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Unfortunately we are not able to remortgage with old lender. Has to be new.

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rock and a hard place.

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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Share on other sites

2 hours ago, Hogie said:

I would like to know if it would work to transfer the property into my name alone.

Would Land Registry then automatically remove the Restriction as my OH would not be a registered co-owner.  

wont remove the rest k , it was a joint vol charge. both your names are on the charge too.

 

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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