Groups

    property land charges query

    Been looking through the legal pack documents of a property I'm considering purchasing. The Land registry copy of register of title has thrown up some stuff which I think is saying that the last proprietor probably didn't pay all of his mortgage and maybe has some outstanding debts?

    Is anyone able to tell me if there's anything that i should be concerned about that would put me off buying the property. I've copied a chunk of the document below:

    B: Proprietorship Register
    Title absolute

    4 (24.09.2008) RESTRICTION: No disposition of the registered estate by
    the proprietor of the registered estate is to be registered without a
    written consent signed by the proprietor for the time being of the
    Charge dated 19 September 2008 in favour of Barclays Bank PLC referred
    to in the Charges Register.
    5 (05.12.2012) 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

    1 of 2
    B: Proprietorship Register continued
    without a certificate signed by the applicant for registration or their
    conveyancer that written notice of the disposition was given to
    Nationwide Building Society at care of Lending Control Legal Services,
    Nationwide House, Pipers Way, Swindon SN38 1FN, being the person with
    the benefit of an interim charging order on the beneficial interest of
    xx made by the xx court on XX November
    2012 (Court reference XXX07635).
    6 (22.05.2013) 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
    Hillesden Securities Ltd (Co. Regn. No. 1418063) at c/o Direct Legal
    and Collections, Buckingham Road, Brackley, Northants, NN13 7DN (a/c
    ref: 7), being the person with the benefit of an interim
    charging order on the beneficial interest of XX XX made by
    the XX County Court on 14 May 2013 (Court reference
    XXX485)

    2 Comments

    This is standard. When a property has been charged (owner has a mortgage) then the Lender has restrictions on the title, so property can't be sold without their consent.

    So the seller has 2 charges over the property. They may be in negative equity? However, your solicitor will ask this in their enquiries and before you buy, requisitions on title will contain an undertaking from the Seller's solicitor confirming that they will redeem the mortgages and provide the necessary discharge documents. So you will be able to register your purchase at the Land Registry

    Original Poster

    Thanks. The court reference stuff got me thinking there was something more sinister going on.

    Yes, its being sold less than what the proprietors had originally paid.
    Post a comment
    Avatar
    @
      Text
      Top Discussions
      1. Best VR games?22
      2. What to do?????23
      3. Virgin Media Superhub 3 Settings55
      4. Good Sim only deals??611

      See more discussions