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can I get a charging order on a repossessed house?

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  • can I get a charging order on a repossessed house?

    Hello All,

    I am not sure if i have posted this in the right forum....... I would welcome some urgent advice please. I foolishly remortgaged my own house to lend an ex partner £70k. We had a written agreement if he defaulted on the loan he would sell his house and pay off the loan from the proceeds of the house sale. He has since defaulted and although he put his house on the market he says he does not plan to pay the loan off from the house proceeds. The land registry have looked at the loan agreement and say I have a beneficial interest in his house and that he is holding the house on trust for myself and him. Thus they have granted me a restriction against his property. I also sued him and have secured an interim charging order. The hearing for the final charging order is imminent.

    However I have learnt that a repossession notice for his house came into force, coincidentally the same date the interim charging order was granted. My question is how does the repossession affect me? Can a final charging order be obtained when there is a mortgagee in possession of the relevant property?

    If I do suceed in getting a final charging order how powerful is my position in negotiating with the bank that has repossessed the house given they are in possession of a house with a charging order against it? I am assuming the house will be less attractive to potential buyers because of the charging order. Ideally I would like to ensure the bank only sells the house at a price to cover the money they are owed plus what I am owed. How realistic am I being?

    Any advice would be really welcomed! Thank you so much.
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