Charging Order placed on property 7 years ago

[Abcot1]

We are currently going through a secured loan application and the lender has requested redemption of two Charging Orders on our property. Having got the details they were both allocated in August 2009. The companies involved are Blue Motor Finance and Phoenix Recoveries. I have contacted the courts and they have directed me to the companies in question however when I have called them they have no records of these being held nor of the debt. My connumdrum now is the process to further progress my loan application is dependent on these being settled and Land Registry will not accept my communication to have them removed.

Can someone help point me in the right direction if possible.

Regards

[Openlaw15]

Re: Charging Order placed on property 7 years ago

We are currently going through a secured loan application and the lender has requested redemption of two Charging Orders on our property. Having got the details they were both allocated in August 2009. The companies involved are Blue Motor Finance and Phoenix Recoveries. I have contacted the courts and they have directed me to the companies in question however when I have called them they have no records of these being held nor of the debt. My connumdrum now is the process to further progress my loan application is dependent on these being settled and Land Registry will not accept my communication to have them removed.

Can someone help point me in the right direction if possible.

Regards

Check your property's land register it will tell you which companies have charging orders. If it's a registered property owned jointly, ie with someone else it'll be a 'restriction' and the term 'charity' included which indicates the property is now owned in tenants in common, ie no longer joint ownership, but double ownership, you might say. Is it a commercial or non commercial property, ie your family home or a business? In general, the court is unlikely to give the company an Order of Sale even with charging orders for domestic properties. You cannot remove a charging order or restriction form the land register unless the court cancels the charging order.

[Abcot1]

Re: Charging Order placed on property 7 years ago

Thank you Open Law. I have today found out that Blue Motor Finance Limited have since sold my debt on to a another company and have found documents dated in 2009 telling me the debt belongs to yet another business. The debt is currently owned by Bluestone Credit Management Limited. How does this affect the Charging order as surely they should have re assigned the name when they purchased the debt or is that incorrect? The property is our family home and these charging orders are now holding up the process. I have requested the documents from the land registry. I cannot seem to find or get contact out of anything to do with Phoenix Recoveries Ltd regarding their order so have asked Land Registry under a RX3 form to request a formal notice to see if they object to the charge being removed. I am concerned that with out anyone being able to claim the charging orders we are left in Akins of limbo...? Any further advice would be greatfully appreciated.

[Openlaw15]

Re: Charging Order placed on property 7 years ago

Thank you Open Law. I have today found out that Blue Motor Finance Limited have since sold my debt on to a another company and have found documents dated in 2009 telling me the debt belongs to yet another business. The debt is currently owned by Bluestone Credit Management Limited. How does this affect the Charging order as surely they should have re assigned the name when they purchased the debt or is that incorrect? The property is our family home and these charging orders are now holding up the process. I have requested the documents from the land registry. I cannot seem to find or get contact out of anything to do with Phoenix Recoveries Ltd regarding their order so have asked Land Registry under a RX3 form to request a formal notice to see if they object to the charge being removed. I am concerned that with out anyone being able to claim the charging orders we are left in Akins of limbo...? Any further advice would be greatfully appreciated.

Hello again.

Do you have a copy of you property's land register, if so could you scan it here? A company requires a charging order to benefit using it as security against the home, ie the land large. It does not matter how often the debt is sold for any company or person to have a charge on a property they must apply to the court for one. As far's am aware a company cannot transfer a debt which also transfers the land charge. So, check the property's land register to see which company or individuals have charges or restrictions. A restriction also stops the owner from remortgaging their property or selling it etc.

[Abcot1]

Re: Charging Order placed on property 7 years ago

Thank you and I will now go and get a copy of the land registry and scan up later. I have an email in writing from Blue Motor Finance Limited that they sold the debt dated today and when they sold it. Do you think that will help in anyway with having it removed?

- - - Updated - - -

The land register states that interim charges are by Blue Motor Finance Limited and for another to Phoenix Recoveries Limited.

[Abcot1]

Re: Charging Order placed on property 7 years ago

Title Deeds and details now attached for your perusal and any advice is always helpful.

Regards