Restrictions/ charging order

[Joojoo1]

Hi,

new to ere,

 

Please can some1 help.

 

I have 2 restrictions on my property.

Joint mtg.

sole debt in my name.

I have accepted a offer of sale on my property, however these 2 restrictions are on from 2008.

I have read a lot about from 2003 law changed an my solicitor only has to give notice to the creditors of my sale and they can't force to have full funds. My ex partner put the deposit in and won't give me any which is understanding, well he has offered me £4k which I offered to one restriction to take off but they said no. So does my solicitor just have to give them notice.? Any1 reccomend a solicitor who is keyed up on this to go through?

 

Thanks in advance

[veganite]

hello,

if what you say is correct - that your solicitor only has to give notice to the creditors (charging orders?) and they can't force to have full funds, - if this is correct, then the charging orders would then change from secured to an unsecured loan.

 

any solicitor / conveyancer will be able to help you to make it go through, on the provision that what you say is correct - that the creditors/charging orders can't force you to have full funds.

 

hopefully someone else would advise you on this because i always thought that a property could not be sold if there is not enough funds from the sale to cover all secured loans. i hope i am wrong.

[veganite]

just adding a link: http://www.money.co.uk/article/1006216-negative-equity-but-need-to-sell-your-options.htm

It’s important to be aware that your lender will need to give their express permission for you to arrange the sale if the likely return is less than your outstanding mortgage.

Read more: http://www.money.co.uk/article/1003161-what-does-negative-equity-mean-for-me.htm#ixzz34qV7HI1b

[veganite]

just adding a link: http://www.money.co.uk/article/1006216-negative-equity-but-need-to-sell-your-options.htm

It’s important to be aware that your lender will need to give their express permission for you to arrange the sale if the likely return is less than your outstanding mortgage.

Read more: http://www.money.co.uk/article/1003161-what-does-negative-equity-mean-for-me.htm#ixzz34qV7HI1b

[Windywoo]

Some important information here:

 

http://forums.moneysavingexpert.com/showthread.php?t=1839539&page=1

[Windywoo]

Some important information here:

 

http://forums.moneysavingexpert.com/showthread.php?t=1839539&page=1