"Registration of a charge" - Buying a house

14
Found 12th Jan
Hey, I am viewing a house tomorrow and I already know the area and have even lived on the same street previously and unless it's fallingdown I am pretty sure I will be making an offer.

However I did some research on the specific address and found some documents on companies house. Here is an example: (click view pdf)
beta.companieshouse.gov.uk/com…-t0

From my understanding this means the current owner of the property has either got a loan secured against the property or potentially they are already in need to repay it and that's the reason for the sale. But I just wanted some clarification to ensure what it actually means, in the past I have viewed houses where they sort of overlapped on a commercial property and had some deal where they had to pay £x each month - just wanted to make sure this isn't anything like that.

I will be asking the agents but I think they will word anything as best they can to make a sale so not gonna trust them 100%.


Also if it is as I suspect, do you think they would be more or less likely to reduce the cost of the home (worth lowballing)? It has been on the market a long time and has already dropped 20%, this isn't too worrying for me as we had trouble selling on that street but not for any malicious reason, just general things like traffic.
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Speak to your solicitor. Asking for legal advice on a shopping forum on such a large investment would be a little foolhardy.
On the contrary, if one of the millions of homeowners on this forum can give me some insight to this then worst case it's a no-go and no money crosses hands. Best case it's a go-go, I make an offer, and get a conveyancer who will give me a full legal explanation of the document and more as is standard. I'm asking for advice before I spend money and waste time getting that far.
murtgurge9 m ago

On the contrary, if one of the millions of homeowners on this forum can …On the contrary, if one of the millions of homeowners on this forum can give me some insight to this then worst case it's a no-go and no money crosses hands. Best case it's a go-go, I make an offer, and get a conveyancer who will give me a full legal explanation of the document and more as is standard. I'm asking for advice before I spend money and waste time getting that far.


Fair enough I understand you want to avoid running up unnecessary costs.

Good luck with it all, hope it goes smoothly.

I would always trust my conveyancer who has the relevant experience and would give me their advice as part of appointing them for my property purchase.
Bit more searching turns out the company that filed the charge is a energy company so it will be one of those "rent a roof" schemes, though the property has no solar panels
the owner may have pledged the property as security to a bank for a business loan etc

A person (IE a director) is not liable for the debts of limited company or LLP so the bank would take a charge over their home behind a personal guarantee


solicitor will be able to confirm you will have full charge with no other charges on property
ok it does have panels just not on the roof, I have cancelled the viewing cause I really don't care for those solar panel schemes and all that bother isn't for me
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deleted800342
This has been wonderful
a conversation with myself
murtgurge1 h, 28 m ago

a conversation with myself


Could be worse, I've had some right idiots on here trying to converse with me.
sounds like you have already dismissed the house, but you could find out from the estate agent what the exact charge entails and whether it would be possible for the owner to get the charge released as part of the sale so they get rid of the blooming panels, which are pretty ugly i find.

properties can stay on the market for a while because of all sorts of reasons. it may be over priced or has problems. some properties just don't sell without any reason while others sell quickly and you wonder why! properties are very odd when it comes to selling.

properties are not shifting quickly any more, that time has gone. it is a buyer market at the moment.
mutley154 m ago

sounds like you have already dismissed the house, but you could find out …sounds like you have already dismissed the house, but you could find out from the estate agent what the exact charge entails and whether it would be possible for the owner to get the charge released as part of the sale so they get rid of the blooming panels, which are pretty ugly i find.properties can stay on the market for a while because of all sorts of reasons. it may be over priced or has problems. some properties just don't sell without any reason while others sell quickly and you wonder why! properties are very odd when it comes to selling.properties are not shifting quickly any more, that time has gone. it is a buyer market at the moment.


the company only offers 1 deal and it's a 25 year contract with no buy out clause, googling only brings up complaints from other people so it's a headache I want to avoid
Use a solicitor and tell them what you have found out, remember if buying anywhere other than Scotland you can always retract your offer. It’s probably worth starting low, they may be very desperate and take it. You can say that you know the traffic is bad and when you come to sell it you won’t achieve its value and that’s why you ain’t prepared to offer their asking price. You can always increase your offer if initially rejected.

In terms of orders that are slapped on property these are usually settled as part of the sale unless they are rented solar panels or something along those lines and should be picked up by your solicitor (you must mention it to them anyway). You can always ask the solicitor for advice anyway and pull out of you don’t like it.
Edited by: "cmdr_elito" 12th Jan
murtgurge58 m ago

the company only offers 1 deal and it's a 25 year contract with no buy …the company only offers 1 deal and it's a 25 year contract with no buy out clause, googling only brings up complaints from other people so it's a headache I want to avoid


in that case, i agree it is a dead end so don't waste time on it. the owners are idiots by the sound of it to have signed up to the deal. explains why the house has not sold and may explain why they have decided to sell!

keep an eye on it, as they may drop it to a bargain price just to get rid of it. everything sells for a price, and if it becomes a bargain, why not
This is to your silly reply to my I phone update thread, as HUKD isn't letting me reply "Pardon? Of course it isn't a fix for that. Someone else asked that question and I didn't answer it because of how ridiculous it was. This is obviously for your home network only! I never insinuated it was a fix for public hot sports or anyone else's network. Honestly cannot believe you've just asked that!"
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