Secured loan F&F agreed but Barclays will not agree to lift the legal charge

[Phil1966]

hello all, I am new here and have a pressing legal matter which my solicitor seems unable to resolve.

i have a 10 year old secured loan with Barclays. The loan went into default within months of taking it, the amount is £55k with default fees making it up to £56k
Barclays marked this loan as partially settled in bankruptcy in 2009.(i kept the house as it was in negative equity).
yet when I came to sell my house last year I found the charge still on the property.
After 5 months of trying to get Barclays to lift the Charge I opened an official complaint in which they admitted to marking the debt as settled, called it a bank error, and refused to lift the charge until the debt was discharged.

after 3 further months of negotiations I somehow managed to secure a full and final settlement of £12k which I have in writing. The letter is clear in saying the remainder of the debt will not be pursued by either Barclays or a 3rd party and the loan account will be closed and marked partially settled on my credit file. The due date was 5/5/18 which Barclays were aware wasn’t aceivable as the Funds were coming from house sale. Verbally they agreed to extend this deadline to completion date.
My conveyancing solicitor is chasing a response to her letter of undertaking to pay the £12k on the understanding that the bank confirms they will lift the charge.
The collections team then rang me to say that even if I pay the £12k the charge will remain until the remainder is settled.

I then got a second letter identical to the first but with a deadline of 05/06/2018.
It says if I pay by this date £12k the £56k loan will be cleared.

However.....still no confirmation that property charge will be lifted. They have told my solicitor it is with their legal team.

my question is.......

i could obtain the £12k by deadline from my son.

Do barclays then, HAVE TO legally, remove the charge on the house?

My so.icitor says, Yes, but I do not trust this bank and am reluctant to take this money from my son, only to have to pay Barclays the rest, leaving no funds to repay my son after the house sale.

please help!

Philippa

[Amethyst]

Can you post the letter ( or type the EXACT wording from the letter with the 5/6/18 deadline ).

I'm sure your solicitor could advise on getting something like a consent order drawn up, signed by both parties, with consequences if either side break their side of the agreement.

[Phil1966]

Hi Amethyst

here is is the letter with private details blanked out thanks barclays F&F 10 May redacted .pdf

[Phil1966]

barclays F&F 10 May redacted .pdf

hope this his has worked as an upload barclays F&F 10 May redacted .pdf

[Phil1966]

Here is the letter as a JPEG AD8AA994-D3B0-4137-BDAE-FEC8DDA23A91.jpeg

[Amethyst]

Okay so the charge isn't mentioned at all. In which case I would reply..... check with your sol obviously, but something like;

Dear Barclays

REF REF REF

Thank you for your letter confirming that you will accept a payment of £12,000.00 in full and final settlement of the outstanding balance providing that payment is made by the 05/06/2018. You also confirm that full payment of this amount will be accepted in full and final settlement of my liability in relation to the account. When payment has been received to the account and the funds have cleared you will close the loan and deem it settled. You also confirm that the record on my credit files will be marked as partially settled.

I have the funds ready to transfer, however, as you are aware following our telephone conversation I require your confirmation in writing that on receipt of the cleared funds of £12,000.00, you will inform the land registry of the discharge of the registered charge held by xxxxxxxxxxxxxxxxxxxx over my property at xxxxxxxaddressxxxxxxxxxxxxxxxxxxxxxx and a copy of the discharge forwarded to my solicitor at xxxxxxxxxxxnameaddressxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxx.

Please confirm this in writing before 4pm on Thursday 31st May 2018 and I can make arrangements to transfer the funds in full and final settlement to you on or before 5th June 2018.

Yours sincerely

xxxxxxxxxxxxxx