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Sorry for troubling you, I have held a charge on a letting property for many years to secure a loan.
I recently received the following letter,
[[[[
'Dear Mr. De Fries
[Re Property to which you have a charge in your favor].
I am sorry to trouble you with this, but the 'Friends of XXX Road' are trying to make life easier for the 10 householders of the Road by letting the much larger and better-financed XXX Estate Residents Association take over our management and the tasks of u[keep and wellbeing. I can assure you that there is nothing untoward in this and that whilst it may look officious, it makes no changes that alter the status quo.
To this end there is one document that you need to sign and a second (the longer document) that needs to be signed and witnessed on page 5. [Your borrower] will be signing a separate copy of the document so you don't have to involve him at any stage.
When this is done please can you return them both to me in the stamped addressed envelope {or drop it through my letter box). If you need clarification, please feel free to email or telephone me.
With kind regards,
Yours
Mr.Y
]]]
Please can you advise me if this is a scam? Can you also advise me if such a deed legally involves me or creates liabilities for me, and if it makes the property harder to sell should the borrower default and sale be required.
Is it also true that the consent of other householders is required should a sale be required?
Thanks fro any help
Charles De Fries
I recently received the following letter,
[[[[
'Dear Mr. De Fries
[Re Property to which you have a charge in your favor].
I am sorry to trouble you with this, but the 'Friends of XXX Road' are trying to make life easier for the 10 householders of the Road by letting the much larger and better-financed XXX Estate Residents Association take over our management and the tasks of u[keep and wellbeing. I can assure you that there is nothing untoward in this and that whilst it may look officious, it makes no changes that alter the status quo.
To this end there is one document that you need to sign and a second (the longer document) that needs to be signed and witnessed on page 5. [Your borrower] will be signing a separate copy of the document so you don't have to involve him at any stage.
When this is done please can you return them both to me in the stamped addressed envelope {or drop it through my letter box). If you need clarification, please feel free to email or telephone me.
With kind regards,
Yours
Mr.Y
]]]
Please can you advise me if this is a scam? Can you also advise me if such a deed legally involves me or creates liabilities for me, and if it makes the property harder to sell should the borrower default and sale be required.
Is it also true that the consent of other householders is required should a sale be required?
Thanks fro any help
Charles De Fries
