Secured Loan advice

[TARTANTAFF]

Hi Folks,

New member and first post, looking for your advice. I took out a secured loan of 35k in 2005, all done over the phone, forms posted out signed and returned, money paid. I then topped up this loan a year later by a further 17k, this time I had to have a work colleague to act as a witness and an employee of the loan company came to my home to countersign on behalf of them.

During a discussion with my bank (mortgage provider) recently they mentioned they had no register of a loan secured against our property and we have subsequently been advised (not by an expert) that a solicitor should have been witness to the loan signing due to it being secured, this was never the case.

Can someone advise if a) is the loan actually secured if not registered with bank responsible for mortgage and b) should a solicitor have witnessed the signing of a secured loan.

Thanks in advance.

[seduraed]

Re: Secured Loan advice

I recently took a secured loan and there was no need for a solicitor to witness the signature . To make it valid the signature has to be properly witnessed in my case the sig. needed two witnesses .

I believe the loan company should have registered and interest ini the property. However watch for the sneaky trick of the laon company immediately selling your loan and the third party registering and interest .