Restrictions placed on property from loans taken out pre 2007.

[dolf1983]

My parents have restrictions placed on their property from loans taken out pre-2007. Is it correct that a lot of these loans are unenforceable due to lacks paperwork procedures carried out pre-2007.
Does anyone have experience in this? Has anyone had a loan written off due to third party not having CCA from original lender? Any advice please

[Diana M]

My parents have restrictions placed on their property from loans taken out pre-2007. Is it correct that a lot of these loans are unenforceable due to lacks paperwork procedures carried out pre-2007.
Does anyone have experience in this? Has anyone had a loan written off due to third party not having CCA from original lender?

If your parents have Restrictions on the property then they'll already have County Court Judgments for these debs which the debt owners have secured by way of a charge at Land Registry.

Unfortunately this means the opportunity to challenge the enforceability of the loan agreements has passed since the court has already made their decision.

However if any of these CCJs were obtained incorrectly (such as the claim form served on an address where they weren't living at the time) then they should explore the potential to have any of them set aside. Without a CCJ there can be no Restriction to enforce it.

Di

[dolf1983]

Thanks Di, I am trying to clear these restrictions as in the future my parents may need to go down the equity release road.
Would you advise contacting the collectors directly to table a reduced amount as a F&F settlement and therefore have restrictions removed?